MS HB380

Authorizes the issuance of state general obligation bonds totaling up to $7,000,000 to fund improvements to the Pete Brown Golf Course in Jackson, Mississippi, with a maximum of $2,500,000 issued per fiscal year.

Creates a special fund called the "2021 City of Jackson Pete Brown Golf Course Improvements Fund" to receive bond proceeds and disburse funds for clubhouse repairs, golf course upgrades, cart and walking paths, and golf cart purchases.

Bonds may mature up to 25 years from date of issue with interest rates not to exceed limits set in Mississippi Code Section 75-17-101, and all bonds are backed by the full faith and credit of the State of Mississippi.

Authorizes the State Bond Commission to prescribe bond forms, determine sale methods, advertise bids, issue and sell bonds, and transfer proceeds to the special fund, with the State Treasurer responsible for debt service payments.

No bonds may be issued after July 1, 2025, and any remaining funds after project completion shall be applied to bond debt service; bond income is exempt from Mississippi state taxation.