MS SB2796

Authorizes issuance of up to $5,000,000 in state general obligation bonds to fund improvements at Hawkins Field Airport in Jackson, with bonds not to be issued after July 1, 2024.

Establishes a special "2020 Jackson Municipal Airport Authority Hawkins Field Airport Improvements Fund" to receive bond proceeds for land acquisition, planning, design, construction, terminal building preservation, entrance relocation, and facility upgrades.

Bonds are general obligations of Mississippi with full faith and credit pledge; principal and interest must be paid from state appropriations or general treasury funds if insufficient.

Authorizes State Bond Commission to prescribe bond terms including interest rates (not exceeding statutory limits), maturity dates (up to 25 years), denominations, and redemption provisions; bonds may be sold by sealed bid or negotiated sale.

Bond proceeds are exempt from state taxation and funds may be applied to debt service once projects are completed, abandoned, or cannot be completed timely as certified by the Bond Commission.