MS SB2707

Authorizes issuance of up to $8,000,000 in state general obligation bonds to assist the City of Starkville, Mississippi, with purchasing land and constructing a public library

Creates the "2021 City of Starkville Public Library Fund" within the State Treasury to hold and disburse bond proceeds, with unexpended funds and interest earnings remaining in the fund rather than lapsing to the General Fund

Bonds may not be issued after July 1, 2025, and must mature within 25 years from date of issue

Bonds are backed by the full faith and credit of the State of Mississippi, with the State Treasurer required to cover any payment deficiencies from general treasury funds

Bonds and income from them are exempt from all Mississippi state taxation and qualify as legal investments for trustees, fiduciaries, and insurance companies