MS SB3001

Authorizes issuance of state general obligation bonds not to exceed $2,300,000 to fund construction of the Fannie Lou Hamer Cancer Foundation headquarters in Ruleville, Mississippi.

Creates a special fund designated "2020 Fannie Lou Hamer Cancer Foundation Headquarters Construction Fund" within the State Treasury to receive and disburse bond proceeds.

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

Pledges the full faith and credit of the State of Mississippi to guarantee bond payment, with any deficiencies covered by the State Treasurer from general treasury funds.

Bond proceeds and income from such bonds are exempt from all state taxation, and the State Bond Commission serves as issuing agent with authority to sell bonds by sealed bid or negotiated sale.