MS SB3079

Authorizes the issuance of state general obligation bonds up to $2,000,000 to assist the City of Canton, Mississippi with first-phase planning and construction of a municipal complex.

Creates a special fund designated "2019 City of Canton Municipal Complex Fund" within the State Treasury, maintained separately from the General Fund with unexpended amounts not lapsing.

Grants the State Bond Commission authority to issue and sell the bonds, determine sale method, prescribe bond form, and handle all costs incident to issuance and sale from bond proceeds.

Specifies that bonds shall mature within 25 years, bear interest at rates not exceeding limits set in Mississippi Code Section 75-17-101, and be backed by the full faith and credit of the State of Mississippi.

Requires all bond proceeds be transferred to the special fund and disbursed solely by the Department of Finance and Administration; prohibits bond issuance after July 1, 2023.