MS SB2963

Authorizes issuance of up to $250,000 in state general obligation bonds to assist the City of Winona, Mississippi with construction and placement of a historic clock tower.

Creates a "2019 Winona Historic Clock Tower Fund" within the State Treasury to receive bond proceeds and disburse funds for the project under Department of Finance and Administration discretion.

Bonds must be issued by July 1, 2023, with maturity not to exceed 25 years from issuance, and may bear interest rates up to limits set by Mississippi Code Section 75-17-101.

State Bond Commission acts as issuing agent with authority to prescribe bond form, determine sale method, advertise for bids, and negotiate sales; all issuance costs paid from bond proceeds.

Bonds are general obligations of Mississippi with full faith and credit pledge; if appropriated funds are insufficient, State Treasurer must pay deficiencies from other state treasury funds; bond income is tax-exempt in Mississippi.