MS SB3066

Authorizes the issuance of up to $340,000 in state general obligation bonds to assist Calhoun County Board of Supervisors with improving entrances and paving parking lots at the Calhoun County Health Department buildings located on Mississippi Highway 9 in Pittsboro.

Creates a special fund designated as the "2019 Calhoun County Health Department Buildings Fund" within the State Treasury to receive bond proceeds and disburse funds under the direction of the Department of Finance and Administration.

Bonds may be issued at any time but no later than July 1, 2023, with a maturity period not to exceed 25 years from the date of issue, interest rates subject to Mississippi Code Section 75-17-101 limits.

Bonds are general obligations of the State of Mississippi backed by the full faith and credit of the state; the State Treasurer must pay any deficiency from unappropriated state funds if appropriated amounts are insufficient.

Upon project completion or abandonment, any remaining fund balance shall be applied to pay debt service on the bonds; bond income is exempt from all Mississippi state taxation.