MS HB231

Authorizes issuance of up to $2,500,000 in state general obligation bonds to assist Holmes County Consolidated School District with constructing a football stadium, related facilities, and purchasing real property for the project

Creates the "2021 Holmes County Consolidated School District Football Stadium Construction Fund" within the State Treasury to hold and disburse bond proceeds

Bonds must be issued before July 1, 2025, and mature within 25 years from date of issue, with interest rates subject to limits in existing state law

Bonds are backed by the full faith and credit of the State of Mississippi, and both the bonds and income from them are exempt from all state taxation

Department of Finance and Administration has discretion over disbursement of funds, with remaining amounts applied to debt service once projects are completed or abandoned