MS HB33

Authorizes issuance of state general obligation bonds up to $2,500,000 to assist Holmes County Consolidated School District with construction of a football stadium and related facilities and purchase of real property for the stadium.

Establishes a special fund designated the "2020 Holmes County Consolidated School District Football Stadium Construction Fund" within the State Treasury to receive bond proceeds and disburse funds for project costs.

Bonds may be issued at any time by the State Bond Commission before July 1, 2024, with a maturity period not exceeding 25 years from date of issue.

Upon project completion or abandonment, remaining funds in the special fund shall be applied to pay debt service on the bonds.

Bonds are general obligations of the State of Mississippi backed by the full faith and credit of the state; bond income is exempt from state taxation.