MS SB2913

Authorizes the issuance of state general obligation bonds not to exceed $400,000 to fund repair and renovation of the City of West, Mississippi's city park.

Creates a special fund designated the "2020 City of West Park Repair and Renovation Fund" within the State Treasury to receive bond proceeds and disburse them for project costs.

Bonds may be issued at any time before July 1, 2024, with a maturity period not to exceed 25 years from date of issue and interest rates not to exceed limits set in Mississippi Code Section 75-17-101.

Remaining funds after project completion shall be applied to pay debt service on the bonds; investment earnings on the fund shall be used for debt service payments.

Bonds are general obligations of the State of Mississippi backed by the full faith and credit of the state, and bond income is exempt from state taxation.