MS SB2441

Authorizes the State Bond Commission to issue up to $1,200,000 in general obligation bonds to assist the City of West Point, Mississippi with remodeling, renovation, and improvement of Northside School.

Creates a special fund designated the "2021 City of West Point Northside School Renovation Fund" within the State Treasury to receive and disburse bond proceeds for the project.

Bonds may be issued at any time or from time to time until July 1, 2025, with maturity dates not to exceed 25 years from issuance date and interest rates subject to Mississippi Code Section 75-17-101.

Bonds are general obligations of the State of Mississippi with full faith and credit pledged; any remaining fund balance after project completion shall be applied to debt service on the bonds.

Bond proceeds are exempt from state taxation, may be sold through sealed bids at public sale or negotiated sale, and investment earnings on the fund shall be used to pay debt service.