MS HB17

Authorizes issuance of state general obligation bonds not to exceed $20,000 to provide funds to the City of Tupelo for Helping Hands Food Pantry building repair and renovation costs.

Creates a special fund called the "2020 Helping Hands Association Building Improvements Fund" within the State Treasury to receive bond proceeds and disburse funds to the City of Tupelo.

Bonds must be issued by July 1, 2024, with a maximum maturity of 25 years and interest rates not to exceed limits in Mississippi Code Section 75-17-101.

Pledges the full faith and credit of the State of Mississippi for bond repayment; any insufficient appropriated funds for principal and interest will be paid from the State Treasury.

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