MS SB2890

Authorizes issuance of state general obligation bonds not to exceed $2,600,000 to assist Webster County Board of Supervisors in constructing a new command center and jail facility.

Creates a special fund designated "2021 Webster County Command Center and Jail Facility Fund" within the State Treasury, separate from the General Fund, with unexpended amounts and investment earnings remaining in the fund.

Allows the State Bond Commission to issue and sell the bonds at interest rates not exceeding limits in Mississippi Code Section 75-17-101, with maturity not to exceed 25 years from date of issue.

Bonds must be issued by July 1, 2025, and proceed proceeds are transferred to the special fund for disbursement by the Department of Finance and Administration under restrictions specified in the bond issuance resolution.

Bonds are general obligations of the State of Mississippi backed by the full faith and credit of the state; income from bonds is exempt from Mississippi taxation and may be validated in Chancery Court.