MS SB2462

Authorizes issuance of up to $1,200,000 in state general obligation bonds to fund construction, furnishing, and equipping of a new building in Marks, Mississippi, to house both a community center and Marks City Hall

Creates the "2021 Marks, Mississippi, Community Center/City Hall Construction Fund" as a special fund within the State Treasury, with unexpended amounts and investment earnings remaining in the fund rather than lapsing to the General Fund

Bonds must be issued before July 1, 2025, and mature within 25 years from date of issue, with the full faith and credit of Mississippi pledged for repayment

Department of Finance and Administration has discretion over fund disbursements, and the State Bond Commission serves as issuing agent with authority to determine sale methods and bond terms

Bonds and income from bonds are exempt from all Mississippi state taxation and qualify as legal investments for trustees, fiduciaries, and financial institutions