MS SB3002

Authorizes issuance of state general obligation bonds up to $10,000,000 to assist the City of Canton, Mississippi with construction costs of a new governmental complex.

Creates a special fund designated the "2021 City of Canton Governmental Complex Fund" within the State Treasury to receive bond proceeds and disburse funds for the project.

Grants the State Bond Commission authority to issue bonds, determine sale methods, advertise bids, and manage all aspects of bond issuance and sale.

Bonds may mature up to 25 years from issue date, cannot be issued after July 1, 2025, and are backed by the full faith and credit of the State of Mississippi.

Bond proceeds and income are exempt from state taxation, and any remaining funds after project completion must be applied toward debt service on the bonds.