MS SB2602

Extends until July 1, 2024, the Mississippi Home Corporation's authority to issue bonds and notes annually in an aggregate principal amount not to exceed $350,000,000.

Excludes from the annual limit bonds and notes issued to refund outstanding bonds, bonds where the corporation acts as a conduit issuer, and bonds issued for Hurricane Katrina-related purposes.

After July 1, 2024, the corporation's authority to issue new bonds will be limited to an aggregate principal amount not exceeding the amount of bonds and notes outstanding on that date.

Bonds and notes issued by the corporation are general obligations secured by the full faith and credit of the corporation and are exempt from Mississippi Securities Act requirements.