Bonds; authorize issuance to assist City of Gulfport with removal of blighted properties.

HB 1007 authorizes Mississippi to issue state bonds to provide funds for the City of Gulfport to cover costs associated with removing blighted properties in the western part of the city. The state would borrow money through bond sales, with repayment backed by Mississippi's full credit, and transfer the proceeds directly to Gulfport for this specific cleanup project. The bill requires that the funds be used exclusively for property removal and cannot be diverted to other state or city expenses. This legislation creates a financial mechanism to support Gulfport's efforts to address deteriorated properties without requiring additional local taxes.