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MS SB2109
Bill
AI Summary
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Authorizes issuance of state general obligation bonds not to exceed $3,500,000 to fund construction of a workforce center in Southaven, Mississippi.
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Creates the "2020 DeSoto County Workforce Center Construction Fund" as a separate fund within the State Treasury to receive bond proceeds and disburse funds for construction costs.
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Bonds may mature up to 25 years from issuance and cannot be issued after July 1, 2024.
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Establishes the State Bond Commission as the issuing agent with authority to prescribe bond terms, determine sale methods, and handle all aspects of bond issuance and sale.
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Pledges the full faith and credit of Mississippi to guarantee bond payments; any remaining fund balance after project completion shall be applied to bond debt service.
Legislative Description
Bonds; authorize the issuance of state general obligation bonds for a workforce center in Southaven, Mississippi.
Last Action
Died In Committee
6/3/2020