MS SB3049

Authorizes issuance of up to $1,000,000 in state general obligation bonds, with no bonds issued after July 1, 2025.

Creates the "2021 Pascagoula Redevelopment Authority Fund" as a separate state treasury fund to receive bond proceeds and any investment earnings.

Directs funds to be disbursed to the Pascagoula Redevelopment Authority for attracting, securing, and attaining a qualified workforce through economic development of the city and its downtown.

Bonds mature within 25 years, are backed by the full faith and credit of Mississippi, and are exempt from state taxation.

Upon project completion or abandonment, any remaining fund balance shall be applied to pay debt service on the bonds.