MS SB2254

Authorizes issuance of state general obligation bonds up to $540,000 to fund the West Central Mississippi Incubator Grant Program in Humphreys, Madison, Sharkey, Sunflower, Washington, and Yazoo Counties.

Creates a special "2020 West Central Mississippi Incubator Grant Program Fund" within the State Treasury, with funds disbursed by the Department of Finance and Administration for program expenses.

Bonds must be issued by July 1, 2024, with maturity not to exceed 25 years and interest rates complying with Mississippi Code Section 75-17-101.

Authorizes the State Bond Commission to determine bond form, sale method, and terms; commission may sell by sealed bid at public sale or negotiate sales.

Bonds are backed by the full faith and credit of the State of Mississippi; income from bonds is exempt from state taxation and legal investments for fiduciaries and financial institutions.