MS SB2136

Authorizes the State Bond Commission to issue up to $1,200,000 in general obligation bonds to assist Marks, Mississippi with construction, furnishing, and equipping of a new building housing a community center and city hall.

Creates a special fund called the "2019 Marks, Mississippi, Community Center/City Hall Construction Fund" within the State Treasury to receive bond proceeds and disburse funds for the project.

Bonds may mature up to 25 years from issuance, with interest rates not exceeding limits in Section 75-17-101, Mississippi Code of 1972, and may be called for redemption before maturity.

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

Bonds are secured by the full faith and credit of Mississippi, are exempt from state taxation, and the State Treasurer must issue warrants to pay principal and interest when due.