MS SB2898

Authorizes the issuance of state general obligation bonds up to $500,000 to fund renovation and expansion costs for George Regional Health System in Lucedale, Mississippi.

Creates a special fund called the "2020 George Regional Health System Renovation and Expansion Fund" within the State Treasury to receive and disburse bond proceeds for the project.

Bonds shall not exceed 25 years maturity and may not be issued after July 1, 2024; the State Bond Commission acts as issuing agent and determines sale method.

Bonds are general obligations of the State of Mississippi backed by full faith and credit; principal and interest payments shall be made from state funds if legislative appropriations are insufficient.

Bond proceeds are exempt from Mississippi state taxation, and any remaining funds after project completion shall be applied to pay debt service on the bonds.