MS SB2997

Authorizes issuance of state general obligation bonds not to exceed $500,000 to assist the City of West Point, Mississippi with improvements and repairs to Marshall Park.

Creates a special fund called the "2020 City of West Point Marshall Park Improvements 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 25 years from the date of issue with interest rates not exceeding limits set in Section 75-17-101 of Mississippi Code.

Pledges the full faith and credit of the State of Mississippi to guarantee payment of principal and interest, with any deficiency paid by the State Treasurer from general state funds.

Investment earnings and any remaining fund balance after project completion shall be applied to pay debt service on the bonds issued under this section.