Appropriation; Debt Service-Gen. Obli.

S. B. No. 3100 *SS15/A951CS* ~ OFFICIAL ~ A1/2
26/SS15/A951CS
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To: Appropriations
MISSISSIPPI LEGISLATURE REGULAR SESSION 2026

By: Senator(s) Hopson, DeBar, Williams,
DeLano, Seymour, Simmons (13th), Tate

COMMITTEE SUBSTITUTE
FOR
SENATE BILL NO. 3100

AN ACT MAKING AN APPROPRIATION FOR THE PAYMENT OF SERVICE 1
CHARGES TO BANKS FOR ACTING AS AGENTS OF THE STATE IN PAYING FULL 2
FAITH AND CREDIT BONDS AND INTEREST OF THE STATE OF MISSISSIPPI, 3
FROM THE EFFECTIVE DATE OF THIS ACT UNTIL SUCH BONDS SHALL BE PAID 4
OR UNTIL JUNE 30, 2027, WHICHEVER SHALL FIRST OCCUR; AND FOR THE 5
PAYMENT OF MATURING BONDS AND INTEREST ON THE FULL FAITH AND 6
CREDIT BONDS OF THE STATE OF MISSISSIPPI FALLING DUE DURING FISCAL 7
YEAR 2027. 8
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MISSISSIPPI: 9
SECTION 1. The following sum, or so much thereof as may be 10
necessary, is hereby appropriated out of any money in the State 11
General Fund not otherwise appropriated, for the purpose of paying 12
service charges to banks for acting as agents of the State of 13
Mississippi in paying bonds and interest on the full faith and 14
credit bonds of the state, this appropriation to be available from 15
the effective date of this act until such bonds shall be paid or 16
until June 30, 2027, whichever shall first occur; and for the 17
purpose of paying maturing bonds and interest on the full faith 18
and credit bonds of the State of Mississippi falling due during 19
Fiscal Year 2027............................... $ 371,815,318.00. 20
S. B. No. 3100 *SS15/A951CS* ~ OFFICIAL ~
26/SS15/A951CS
PAGE 2

SECTION 2. The following sum, or so much thereof as may be 21
necessary, is hereby appropriated out of any money in the State 22
Treasury which is comprised of special source funds and interest 23
earnings on bond proceeds for the purpose of paying maturing bonds 24
and interest on the full faith and credit bonds of the State of 25
Mississippi falling due during Fiscal Year 2027................... 26
............................................... $ 51,292,581.00. 27
SECTION 3. The following sum, or so much thereof as may be 28
necessary, is hereby authorized to expend any money in the State 29
Treasury which is comprised of special source funds and interest 30
earnings on bond proceeds for the purpose of paying maturing bonds 31
and interest on the revenue bonds of the State of Mississippi 32
falling due during Fiscal Year 2027............ $ 41,733,375.00. 33
SECTION 4. The several items covering maturing bonds and 34
interest as evidenced by coupons on the bonds shall be paid out of 35
the State Treasury as and when provided by law and according to 36
the schedule of interest payments in the several issues of full 37
faith and credit bonds or revenue bonds on which principal and 38
interest is due and payable between the dates of July 1, 2026, and 39
June 30, 2027. 40
SECTION 5. It is the intention of the Legislature that the 41
State Treasurer is hereby authorized to accept, budget and expend 42
any excess funds which become available from interest earnings on 43
bond proceeds or from loan repayments received pursuant to bond 44
documents. Such funds shall be escalated in accordance with the 45
S. B. No. 3100 *SS15/A951CS* ~ OFFICIAL ~
26/SS15/A951CS
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ST: Appropriation; Debt Service-Gen. Obli.
rules and regulations of the Department of Finance and 46
Administration in a manner consistent with the escalation of 47
federal funds. 48
SECTION 6. Of the funds appropriated in Section 1 of this 49
act hereof, the sum of Five Hundred Thousand Dollars 50
($500,000.00), or so much thereof as may be necessary, is herein 51
appropriated for paying bank service charges. Itemized statements 52
of banks making service charges shall be attached to requisitions 53
of the State Treasurer. 54
SECTION 7. The money herein appropriated shall be paid by 55
the State Treasurer out of any money in the State Treasury to the 56
credit of the proper fund or funds as set forth in this act, upon 57
warrants issued by the State Fiscal Officer; and the State Fiscal 58
Officer shall issue his warrants upon requisitions signed by the 59
proper person, officer or officers in the manner provided by law. 60
SECTION 8. This act shall take effect and be in force from 61
and after July 1, 2026. 62