MS SB2315

Authorizes issuance of state general obligation bonds not to exceed $1,000,000 to assist the City of Tupelo with repair, renovation, and expansion of the BankcorpSouth Arena and Conference Center.

Creates a special "2020 BankcorpSouth Arena and Conference Center Fund" within the State Treasury to receive bond proceeds and disburse funds under the discretion of the Department of Finance and Administration.

Bonds may mature up to 25 years from issuance with interest rates not exceeding limits in Section 75-17-101, Mississippi Code of 1972, and must be issued by July 1, 2024.

Pledges the full faith and credit of the State of Mississippi for bond repayment; any deficiency shall be paid from the State Treasury from unappropriated funds.

Bonds and their income are exempt from all taxation in Mississippi and may be validated through Chancery Court proceedings in Hinds County.