MS HB23

Authorizes issuance of up to $1,000,000 in state general obligation bonds to assist the City of Jackson with acquisition, removal, and demolition of dilapidated and blighted properties near state grounds or within the Farish Street Historic District.

Creates the "2019 City of Jackson Dilapidated and Blighted Properties Improvements Fund" within the State Treasury to receive bond proceeds and disburse funds at the discretion of the Department of Finance and Administration.

Bonds may be issued at any time or from time to time by the State Bond Commission by resolution, with maturity not to exceed 25 years and interest rates subject to state law limits.

No bonds may be issued after July 1, 2023; any remaining fund balance after project completion shall be applied to pay debt service on the bonds.

Bonds are full faith and credit obligations of the State of Mississippi, exempt from state taxation, and constitute legal investments for fiduciaries and financial institutions.