MS HB1448

Authorizes the State Bond Commission to issue general obligation bonds not to exceed $450,000 to assist the Jackson Municipal Airport Authority with construction costs of three new aircraft hangars and related facilities at Hawkins Field in Jackson, Mississippi.

Establishes the "2022 Jackson Municipal Airport Authority Hangar Construction Fund" within the State Treasury to receive bond proceeds and disburse funds for the hangar construction project.

Bonds shall be signed by the State Bond Commission chairman, bear interest not exceeding limits set in Mississippi Code Section 75-17-101, mature within 25 years, and be sold through public bid or negotiated sale with notice published in Jackson newspapers.

Bonds are general obligations of the State of Mississippi backed by full faith and credit, with principal and interest payable from appropriated funds or State Treasury if appropriations are insufficient.

No bonds may be issued after July 1, 2026, and any remaining fund balance after project completion shall be applied toward debt service on the issued bonds; bond income is exempt from state taxation.