MS SB2224

Authorizes the State Bond Commission to issue up to $350,000 in general obligation bonds for repairing and renovating the Crawford Community Education and Recreation Center in Crawford, Mississippi.

Creates a special fund within the State Treasury designated as the "2019 Crawford Community Education and Recreation Center Repair and Renovation Fund" to receive and disburse bond proceeds for project costs and property purchases.

Bonds may mature up to 25 years from date of issue with interest rates not exceeding limits in Section 75-17-101, Mississippi Code of 1972, and are backed by the full faith and credit of the State of Mississippi.

No bonds may be issued under this act after July 1, 2023; any remaining funds after project completion shall be applied to pay bond debt service.

Bonds and income from them are exempt from Mississippi state taxation and constitute legal investments for trustees, fiduciaries, banks, and insurance companies.