MS HB1587

Authorizes the State Bond Commission to issue up to $100,000 in general obligation bonds to fund park improvements in Jackson, Mississippi.

Creates the "2019 City of Jackson Parks Improvements Fund" within the State Treasury to receive bond proceeds and disburse funds for the two parks.

Allocates up to $50,000 for Belhaven Heights Park improvements and up to $50,000 for Jaycee Park improvements, including construction, repair, renovation, and replacement of facilities and infrastructure.

Bonds may mature up to 25 years from issuance and cannot be issued after July 1, 2023; interest earnings and any remaining funds after project completion shall be applied to bond debt service.

Bonds are general obligations of the State of Mississippi backed by full faith and credit; holders are exempt from state taxation and are legal investments for trustees, banks, and insurance companies.