House Bill 105 Summary

• Authorizes the State Bond Commission to issue up to $2,000,000 in general obligation bonds to fund repair, renovation, and restoration of the Yazoo County Courthouse.

• Creates the "2020 Yazoo County Courthouse Improvements Fund" within the State Treasury to receive bond proceeds and disburse funds for courthouse project costs.

• Bonds may be issued at any time before July 1, 2024, with a maximum maturity of 25 years and interest rates not exceeding limits set by Mississippi Code Section 75-17-101.

• Full faith and credit of the State of Mississippi is pledged to back the bonds; any deficiency in appropriated funds shall be paid by the State Treasurer from unappropriated state funds.

• Bond proceeds and interest earned on the special fund are exempt from state taxation, and any remaining funds after project completion shall be applied to debt service on the issued bonds.