MS SB2961

Authorizes the issuance of up to $700,000 in state general obligation bonds to assist Marks, Mississippi with construction, furnishing, and equipping of a building housing an emergency shelter, community center, and city hall.

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

Authorizes the State Bond Commission to issue, sell, and manage the bonds, which may mature up to 25 years from issuance and must be issued by July 1, 2023.

Pledges the full faith and credit of the State of Mississippi to guarantee bond repayment, with any shortfall to be paid from the state treasury.

Exempts the bonds and their income from all Mississippi state taxation and establishes them as legal investments for trustees, fiduciaries, and financial institutions.