Bonds; authorize issuance to assist the Old Union Water Association with system improvements.

HB 465 authorizes Mississippi to issue state general obligation bonds to provide funds for the Old Union Water Association in Lee County to cover costs related to upgrading its water system infrastructure, including construction, repairs, replacements, and improvements. The bonds would be sold by the State Bond Commission, backed by Mississippi’s full faith and credit, with proceeds transferred to a special fund for the water association’s projects. The bill establishes the process for bond issuance, repayment, and disbursement but does not specify a bond amount or exact project details.