SB 2201 Summary

• Authorizes the issuance of up to $7,500,000 in state general obligation bonds to fund construction, furnishing, and equipping of the Unknown Child Holocaust Memorial and related facilities in Horn Lake, Mississippi.

• Creates a special "2019 Unknown Child Holocaust Memorial Fund" within the State Treasury to receive bond proceeds and any investment earnings, with funds disbursed by the Department of Finance and Administration.

• Bonds may be issued at any time or in multiple installments by the State Bond Commission, but no bonds may be issued after July 1, 2023.

• Bonds may mature up to 25 years from date of issue and carry interest rates not exceeding limits in Mississippi Code Section 75-17-101, with principal and interest payable semiannually or annually.

• Bond proceeds and income are exempt from state taxation, and bonds are backed by the full faith and credit of the State of Mississippi; any remaining funds after project completion shall be applied to debt service on the bonds.