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HB 741 ~~(COMMITTEE~~ ~~SUBSTITUTE)~~ - 2020 Regular Session MISSISSIPPI LEGISLATURE Regular Session To:

HB 741 (As Passed the House) - 2020 Regular Session MISSISSIPPI LEGISLATURE Regular Session To:

Representatives Rushing, Reynolds, Miles House Bill 741 ~~(COMMITTEE~~ ~~SUBSTITUTE)~~ AN ACT TO AMEND SECTION 27-67-35, MISSISSIPPI CODE OF 1972, WHICH CREATES SPECIAL FUNDS IN THE STATE TREASURY TO BE USED TO PROVIDE FUNDS TO ASSIST MUNICIPALITIES IN PAYING COSTS ASSOCIATED WITH ROAD AND BRIDGE IMPROVEMENTS AND WATER AND SEWER INFRASTRUCTURE IMPROVEMENTS AND TO ASSIST COUNTIES IN PAYING COSTS ASSOCIATED WITH ROAD AND BRIDGE IMPROVEMENTS, TO PROVIDE THAT A MUNICIPALITY OR COUNTY MAY USE NOT MORE THAN SEVENTY-FIVE PERCENT OF SUCH FUNDS RECEIVED DURING A CALENDAR YEAR TO PLEDGE OR OTHERWISE PROVIDE SECURITY FOR THE REPAYMENT OF CERTAIN BONDS ISSUED OR OTHER DEBT INCURRED BY THE MUNICIPALITY OR COUNTY FOR SUCH IMPROVEMENTS;

Representatives Rushing, Reynolds, Miles House Bill 741 (As Passed the House) AN ACT TO AMEND SECTION 27-67-35, MISSISSIPPI CODE OF 1972, WHICH CREATES SPECIAL FUNDS IN THE STATE TREASURY TO BE USED TO PROVIDE FUNDS TO ASSIST MUNICIPALITIES IN PAYING COSTS ASSOCIATED WITH ROAD AND BRIDGE IMPROVEMENTS AND WATER AND SEWER INFRASTRUCTURE IMPROVEMENTS AND TO ASSIST COUNTIES IN PAYING COSTS ASSOCIATED WITH ROAD AND BRIDGE IMPROVEMENTS, TO PROVIDE THAT A MUNICIPALITY OR COUNTY MAY USE NOT MORE THAN SEVENTY-FIVE PERCENT OF SUCH FUNDS RECEIVED DURING A CALENDAR YEAR TO PLEDGE OR OTHERWISE PROVIDE SECURITY FOR THE REPAYMENT OF CERTAIN BONDS ISSUED OR OTHER DEBT INCURRED BY THE MUNICIPALITY OR COUNTY FOR SUCH IMPROVEMENTS;