MS HB164

Authorizes issuance of up to $1,000,000 in state general obligation bonds to assist Alcorn County in purchasing land and repairing/renovating a building to house the Chancery Court and other county offices.

Creates a special fund designated "2021 Alcorn County Courthouse Repair and Renovation Fund" within the State Treasury to receive bond proceeds and disburse funds for project costs.

Bonds shall mature within 25 years from date of issue and must be issued by July 1, 2025, with interest rates not to exceed limits set forth in Mississippi Code Section 75-17-101.

State Bond Commission acts as issuing agent with authority to determine sale method, advertise for bids, negotiate sales, and pay all fees and costs incident to bond issuance from bond proceeds.

Bonds are general obligations of Mississippi with full faith and credit of the state pledged; any remaining fund balance after project completion shall be applied to bond debt service, and bond income is exempt from state taxation.