MS SB3019

Authorizes the State Bond Commission to issue up to $300,000 in general obligation bonds to assist Chickasaw County with repair and renovation costs for its courthouses in Okolona and Houston.

Creates a special fund designated "2020 Chickasaw County Courthouses Repair and Renovation Fund" within the State Treasury to receive bond proceeds and disburse funds at the discretion of the Department of Finance and Administration.

Bonds may mature up to 25 years from date of issue with interest rates not exceeding limits in Section 75-17-101, Mississippi Code of 1972, and must be issued by July 1, 2024.

Bonds are backed by the full faith and credit of the State of Mississippi; any remaining funds after project completion shall be applied to debt service on the bonds.

Bond proceeds are exempt from state taxation, and any remaining project funds not needed shall be redirected to pay bond debt service as certified by the State Bond Commission.