MS SB2960

Authorizes issuance of up to $2,000,000 in state general obligation bonds to assist Hancock County Board of Supervisors with dredging costs at the Hancock County Port and Harbor.

Creates a special "2019 Hancock County Port and Harbor Fund" within the State Treasury, separate from the General Fund, with unexpended amounts and interest earnings remaining in the fund rather than lapsing.

Designates the State Bond Commission as issuing agent with authority to determine bond terms, sale method, interest rates (not exceeding limits in Mississippi Code Section 75-17-101), and maturity dates up to 25 years from issuance.

Prohibits bond issuance after July 1, 2023, and requires remaining fund amounts after project completion to be applied toward debt service on the bonds.

Pledges the full faith and credit of the State of Mississippi for bond repayment, making the bonds tax-exempt and legal investments for trustees, fiduciaries, and financial institutions.