MS SB3050

Authorizes issuance of up to $250,000 in state general obligation bonds to fund repair and renovation of the Union County courthouse in New Albany, Mississippi

Creates the "2021 Union County Courthouse Repair and Renovation Fund" as a special fund within the State Treasury, with unexpended amounts and interest earnings remaining in the fund rather than lapsing to the General Fund

Bonds must be issued by July 1, 2025 and mature within 25 years from date of issue, with the full faith and credit of Mississippi pledged for repayment

Department of Finance and Administration has discretion over disbursement of funds to the Union County Board of Supervisors for courthouse project costs

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