MS SB2002

Authorizes the issuance of state general obligation bonds in an amount not to exceed $90,000 to assist Adams County, Mississippi, in paying construction costs to replace the Old Kingston School Building.

Requires matching funds from Adams County and/or other sources in the aggregate amount of $90,000 as a condition for bond issuance.

Creates a special "2018 Old Kingston School Fund" within the State Treasury to receive bond proceeds and disburse funds for the school construction project, with unexpended amounts to be applied to debt service after project completion.

Establishes that bonds shall be general obligations of Mississippi with full faith and credit of the state pledged for repayment, with a maturity period not to exceed 25 years from issuance.

Specifies that no bonds shall be issued after July 1, 2022, and bonds and their income are exempt from state taxation.