MS SB3080

Authorizes the State Bond Commission to issue up to $800,000 in general obligation bonds to assist the City of Carthage, Mississippi with renovation costs of Lincoln Park.

Creates a special fund designated "2019 City of Carthage Lincoln Park Renovation Fund" within the State Treasury to receive bond proceeds and disburse funds for the project under the Department of Finance and Administration's discretion.

Bonds may be issued at any time before July 1, 2023, with a maturity not exceeding 25 years from the date of issue and interest rates complying with Mississippi Code Section 75-17-101.

Pledges the full faith and credit of the State of Mississippi to guarantee payment of bond principal and interest; any shortfall will be paid from the State Treasury.

Bonds are exempt from Mississippi state taxation and constitute legal investments for trustees, fiduciaries, banks, and insurance companies in the state.