MS HB808

Authorizes issuance of up to $4,000,000 in state general obligation bonds to assist Oktibbeha County with repairs, upgrades, and improvements to Oktibbeha County Lake and related facilities.

Creates a special "2020 Oktibbeha County Lake Improvements Fund" within the State Treasury to receive bond proceeds and disburse funds for the lake improvement projects.

Bonds may be issued by the State Bond Commission at any time before July 1, 2024, with maturity dates not to exceed 25 years from issuance and interest rates complying with Mississippi Code Section 75-17-101.

Pledges the full faith and credit of the State of Mississippi to guarantee bond repayment; any shortfall in appropriated funds for debt service shall be paid from general state treasury funds.

Bond proceeds and income from the bonds are exempt from all Mississippi state taxation, and bonds may be validated in Chancery Court of the First Judicial District of Hinds County.