MS SB2897

Authorizes the issuance of state general obligation bonds not to exceed $200,000 to assist the City of Forest, Mississippi with street paving around the courthouse square and sidewalk improvements to comply with the Americans with Disabilities Act of 1990.

Creates a special fund called the "2021 City of Forest Street and Sidewalk Fund" within the State Treasury to receive bond proceeds and disburse funds for the specified projects under the Department of Finance and Administration's discretion.

Bonds may mature up to 25 years from issuance with interest rates not exceeding limits in Mississippi Code Section 75-17-101, with no bonds to be issued after July 1, 2025.

Establishes that bonds are general obligations of the State of Mississippi backed by the full faith and credit of the state, with the State Treasurer responsible for paying principal and interest from any unappropriated funds if necessary.

Provides that any remaining funds after project completion shall be applied to bond debt service, and bonds are exempt from Mississippi state taxation with proceeds usable only for the specified purposes.