HB1564: Credit Enhancement Program; establish to improve credit worthiness of schools.

Legislative Summary

An Act To Establish A Credit Enhancement Program For Mississippi School District Bonds To Lower Borrowing Costs Through State Guarantees; To Define The Roles And Responsibilities Of School Districts, Tax Collectors, Paying Agents, And The State Treasurer In Administering The Program; To Outline Conditions For State Payments And District Reimbursements, Including Penalties And Legal Remedies; To Provide For The Appropriation Of Funds To Support The Program; To Authorize The State Bond Commission To Adopt Rules For Implementation; To Bring Forward Sections 37-59-101, 37-59-103, 37-59-105, 37-59-107, 37-59-109, 37-59-111, 37-59-113 And 37-59-115, Mississippi Code Of 1972, For Purposes Of Possible Amendments; And For Related Purposes.