MS SB2327

Authorizes issuance of state general obligation bonds up to $200,000 to assist Union County, Mississippi in purchasing and renovating a building for its district attorney's office.

Establishes a special fund called the "2020 Union County District Attorney Building Purchase and Renovation Fund" within the State Treasury to receive bond proceeds and disburse funds for the project.

Bonds may not be issued after July 1, 2024, and shall mature within twenty-five years from date of issue at rates not exceeding limits set in Mississippi Code Section 75-17-101.

Full faith and credit of the State of Mississippi is pledged to guarantee bond repayment; any shortfall in appropriated funds must be covered by the State Treasurer from unappropriated state funds.

Bonds are exempt from Mississippi state taxation and qualify as legal investments for trustees, fiduciaries, savings banks, trust companies, and insurance companies organized under state law.