MS SB3001

Authorizes issuance of state general obligation bonds not to exceed $600,000 to assist the City of Holly Springs in repairing, renovating, and restoring the former Holly Springs Water and Light Plant building for use as a welcome center and/or museum.

Creates a special fund called the "2019 City of Holly Springs Water and Light Plant Building Repair and Renovation Fund" within the State Treasury to receive bond proceeds and disburse funds at the discretion of the Department of Finance and Administration.

Bonds shall mature no later than 25 years from date of issue, with interest rates not to exceed limits set forth in Mississippi Code Section 75-17-101, and may be called for redemption before maturity.

Pledges the full faith and credit of the State of Mississippi to back the bonds; any remaining funds after project completion shall be applied to debt service on the bonds.

No bonds may be issued under this section after July 1, 2023; bonds and their income are exempt from Mississippi state taxation.