MS SB3051

Authorizes issuance of up to $300,000 in state general obligation bonds to assist the City of Quitman, Mississippi, with land acquisition and cleanup costs for the Quitman Village project

Creates the "2021 City of Quitman - Quitman Village Fund" within the State Treasury to hold and disburse bond proceeds, with the Department of Finance and Administration controlling disbursements

Bonds may not be issued after July 1, 2025, and must mature within 25 years from date of issue

Bonds are backed by the full faith and credit of the State of Mississippi, with the State Treasurer authorized to pay principal and interest from state funds if legislative appropriations are insufficient

Bond income is exempt from all Mississippi state taxation and bonds qualify as legal investments for trustees, fiduciaries, savings banks, trust companies, and insurance companies