A bill authored by Sen. Blackmon would limit where what administrative functions could be issued state bonds by the the State Bond Commission. Senate Bill 2567 would overall limit the commission from certain functions when it comes to issuing bonds.
- Section 31-17-3, Mississippi Code of 1972, is amended as follows: The powers of the State Bond Commission in connection with any state bonds authorized to be issued by an act of the Legislature are limited to performing the following administrative and procedural functions relating to the issuance of the bonds:
(a) Acting as the issuing agent for the bonds; (b) Prescribing the form of the bonds; (c) Determining the appropriate method for sale of the
(d) Advertising for and accepting bids or negotiating the sale of the bonds;
(e) Determining when the bonds are to be sold; (f) Issuing and selling the bonds; and (g) Doing any other things necessary and advisable in connection with the issuance and sale of the bonds. In addition, the commission is authorized to perform any other powers and duties in connection with any state bonds authorized to be issued by an act of the Legislature that are specifically granted to the commission in that act of the Legislature.
However, the commission is not authorize to make a determination that any state bonds should not be issued, or to withhold the issuance of any state bonds, based on the commission's evaluation of the relative merit of the projects being funded by the bonds or the appropriateness of the policy of issuing the bonds. If all of the conditions that are prescribed for the issuance of the bonds in the act of the Legislature authorizing the issuance of the bonds have been met as required in S.B. No. 2567.