MS SB2111

Authorizes issuance of state general obligation bonds up to $500,000 to assist the City of Rolling Fork with improvements to the Rolling Fork Civic and Event Center.

Creates the "2020 Rolling Fork Civic and Event Center Improvements Fund" within the State Treasury to receive and disburse bond proceeds under direction of the Department of Finance and Administration.

Bonds may mature up to 25 years from issuance date with interest rates not exceeding limits in Mississippi Code Section 75-17-101, and may be sold through sealed bids at public sale or negotiated sale.

Bonds are general obligations of Mississippi with full faith and credit of the state pledged for repayment; if appropriated funds are insufficient, the State Treasurer shall pay any deficiency from other available state funds.

No bonds may be issued after July 1, 2024; any remaining fund balance after project completion shall be applied to bond debt service.