MS HB1461

Authorizes the issuance of state general obligation bonds not to exceed $150,000 to assist Pontotoc County, Mississippi with repair, renovation, furnishing, equipping, and improvements to the W.A. Grist Building.

Creates a special fund designated "2021 Pontotoc County - W.A. Grist Building Fund" within the State Treasury to receive bond proceeds and disburse funds for the project under the Department of Finance and Administration's discretion.

Grants the State Bond Commission authority to issue, sell, and manage the bonds through various methods including sealed bids or negotiated sales, with bonds maturing no later than 25 years from issuance and bearing interest rates not to exceed limits in Mississippi Code Section 75-17-101.

Pledges the full faith and credit of the State of Mississippi to guarantee bond repayment, with any fund deficiencies to be paid from the State Treasury; remaining funds after project completion shall be applied to debt service on the bonds.

Prohibits bond issuance after July 1, 2025, and exempts bonds and their income from all state taxation; takes effect July 1, 2021.