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MS SB2057
Bill
AI Summary
- Authorizes issuance of state general obligation bonds not to exceed $200,000 to assist the City of Rolling Fork with demolition and cleanup costs of dilapidated downtown structures
- Creates a special fund called the "2020 Rolling Fork Downtown Structures Demolition and Cleanup Fund" within the State Treasury to receive bond proceeds and manage disbursements
- Bonds may be issued at any time by the State Bond Commission but no bonds may be issued after July 1, 2024
- Bonds shall mature within 25 years, with interest payable semiannually or annually, and are backed by the full faith and credit of the State of Mississippi
- Any remaining fund balance after project completion shall be applied to pay debt service on the bonds, and bond income is exempt from state taxation
Legislative Description
Bonds; authorize issuance for demolition and cleanup of dilapidated structures in downtown Rolling Fork.
Last Action
Died In Committee
6/3/2020
Committee Referrals
Finance1/16/2020
Full Bill Text
No bill text available