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The State Bond Commission authority...

The State Bond Commission authority could soon be limited when issuing bonds #billoftheday

By: Sarah Ulmer - January 22, 2018

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.

Senate Bill 2567

  1. 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
     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.
About the Author(s)
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Sarah Ulmer

Sarah is a Mississippi native, born and raised in Madison. She is a graduate of Mississippi State University, where she studied Communications, with an emphasis in Broadcasting and Journalism. Sarah’s experience spans multiple mediums, including extensive videography with both at home and overseas, broadcasting daily news, and hosting a live radio show. In 2017, Sarah became a member of the Capitol Press Corp in Mississippi and has faithfully covered the decisions being made by leaders on some of the most important issues facing our state. Email Sarah: