MS HB1437

Authorizes issuance of state general obligation bonds up to $250,000 to assist the City of Jackson with improvements to Sykes Park, including construction, repair, renovation, and infrastructure upgrades.

Creates the "2022 City of Jackson Sykes Park Improvements Fund" within the State Treasury to receive bond proceeds and disburse funds for authorized park improvement projects.

Bonds may not be issued after July 1, 2026, and shall mature within 25 years from date of issue with interest rates not to exceed limits set by Mississippi Code Section 75-17-101.

Pledges the full faith and credit of the State of Mississippi to pay bond principal and interest, with the State Treasurer authorized to issue warrants from any available state funds if legislative appropriations are insufficient.

Bond proceeds may be applied to debt service payments if the authorized projects are completed, abandoned, or cannot be completed in a timely fashion, as certified by the State Bond Commission.