MS SB2694

Amends Section 41, Chapter 492, Laws of 2020 to revise the allowable uses of bond proceeds for the Town of Wesson, Mississippi from "parking lot repairs" to "renovation, furnishing and equipping" of the Wesson Old School Visitor Center.

Authorizes issuance of general obligation bonds not to exceed $300,000 by the State Bond Commission for costs associated with the Wesson Old School Visitor Center project, with no bonds to be issued after July 1, 2024.

Creates a special fund designated the "2020 Town of Wesson - Wesson Old School Visitor Center Fund" within the State Treasury to receive bond proceeds and disburse funds for the project, with interest earnings applied to debt service.

Provides that remaining funds after project completion shall be applied to pay debt service on the bonds, and establishes standard bond provisions including maturity not to exceed 25 years and backing by full faith and credit of the State of Mississippi.

Bonds issued are exempt from Mississippi state taxation and proceeds may be used only for the specified project purposes and costs incident to bond issuance and sale.