MS SB2962

Authorizes issuance of up to $700,000 in state general obligation bonds to help the City of Purvis, Mississippi pay for construction of a new city hall

Creates the "2021 Purvis City Hall Construction Fund" within the State Treasury to hold and disburse bond proceeds, with unexpended funds and interest remaining in the fund rather than lapsing to the General Fund

Bonds may be issued at any time before July 1, 2025, with a maximum maturity of 25 years from the date of issue

Bonds are backed by the full faith and credit of the State of Mississippi, with the State Treasurer authorized to pay any deficiencies from State Treasury funds if appropriations are insufficient

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