MS HB320

Authorizes issuance of up to $2,000,000 in state general obligation bonds to assist Yazoo County in paying costs for repair, renovation, and restoration of the Yazoo County Courthouse.

Creates a special fund designated "2019 Yazoo County Courthouse Improvements Fund" within the State Treasury to receive bond proceeds and disburse funds for courthouse project costs under Department of Finance and Administration discretion.

Bonds must be issued by July 1, 2023, with maturity dates not exceeding 25 years from issuance and interest rates subject to Mississippi Code Section 75-17-101 limits.

Pledges full faith and credit of the State of Mississippi to pay bond principal and interest; any shortfall in appropriated funds shall be covered by the State Treasurer from unappropriated state funds.

Bonds are exempt from Mississippi state taxation and qualify as legal investments for trustees, fiduciaries, savings banks, trust companies, and insurance companies organized under state law.