MS HB922

Authorizes the issuance of state general obligation bonds not to exceed $350,000 to fund improvements to the existing city pool in Mound Bayou, Mississippi.

Creates a special fund called the "2020 Mound Bayou City Pool Improvements Fund" within the State Treasury to receive bond proceeds and disburse funds under the direction of the Department of Finance and Administration.

Bonds may be issued at any time up to July 1, 2024, with a maturity period not to exceed 25 years from the date of issue and interest rates subject to state limits.

Pledges the full faith and credit of the State of Mississippi for bond repayment, with any insufficiency in appropriated funds to be covered by the State Treasurer from the General Treasury.

Any remaining unexpended funds after project completion or if the project cannot be timely completed shall be applied to pay debt service on the bonds, and bond income is exempt from state taxation.