AN ACT TO AUTHORIZE THE ISSUANCE OF STATE GENERAL OBLIGATION BONDS TO PROVIDE FUNDS TO ASSIST THE CITY OF ITTA BENA, MISSISSIPPI, IN PAYING COSTS ASSOCIATED WITH THE REPAIR AND RENOVATION OF AND UPGRADES AND IMPROVEMENTS TO MUNICIPAL BUILDINGS AND FACILITIES, INCLUDING THE LIBRARY, POLICE DEPARTMENT, PUBLIC WORKS BUILDING AND L.T. BRAZIL CENTER; AND FOR RELATED PURPOSES.
HB1833 authorizes the State of Mississippi to issue up to $550,000 in general obligation bonds to help the City of Itta Bena pay for repairs, renovations, upgrades, and improvements to municipal buildings and facilities. The bill specifically identifies the library, police department, public works building, and L.T. Brazil Center as intended beneficiaries of the funding. The measure creates a special fund in the State Treasury, the "2026 City of Itta Bena Facilities Improvement Project Fund," to receive bond proceeds and any investment earnings, and directs those monies to the Department of Finance and Administration for the project costs.
The bill sets out the standard terms for the bond issuance, including that the bonds are general obligations of the state backed by the full faith and credit of Mississippi, may mature for up to 25 years, and may be sold by public bid or negotiated sale through the State Bond Commission. It also provides that any remaining funds after the projects are completed, abandoned, or cannot be completed in a timely manner must be used to pay debt service on the bonds. The act is scheduled to take effect on July 1, 2026, and no bonds may be issued after July 1, 2030.
HB1833 would add a new state-authorized bond program for a specific municipal capital project in Itta Bena, creating a dedicated treasury fund and directing the State Bond Commission and Department of Finance and Administration to manage issuance and disbursement. It does not amend local government operating law, but it does create a new state debt obligation and a special funding mechanism for municipal infrastructure improvements. The bill also makes the bonds tax-exempt in Mississippi and establishes their status as legal investments and securities for certain financial institutions and public entities.
The available context shows no recorded committee debate or votes, so there is no documented opposition or support from the legislative record provided. Based on the bill’s structure and purpose, it appears to be a straightforward local assistance measure aimed at financing public facility improvements in Itta Bena. The absence of transcripts or vote history suggests the bill’s reception cannot be assessed beyond its face value as a targeted infrastructure financing proposal.
No specific points of contention are documented in the provided materials. Potential areas of concern, if raised, would likely involve the use of state general obligation debt for a single municipality, the size of the bond authorization relative to the project scope, and the state’s pledge of full faith and credit. However, the record supplied does not identify any legislators, agencies, or stakeholders objecting to or supporting those issues.