MS HB1556

Authorizes issuance of state general obligation bonds up to $2,000,000 to assist the City of Greenville, Mississippi with repair, renovation, and improvements to Hangar 450 and Hangar 173 at Greenville Mid-Delta Airport in Washington County

Creates a special fund called the "2022 Greenville Mid-Delta Airport Improvements Fund" within the State Treasury to receive and disburse bond proceeds for the specified airport projects

Bonds shall not exceed 25 years in maturity, bear interest rates within statutory limits, and are backed by the full faith and credit of the State of Mississippi with principal and interest paid from state appropriations if needed

No bonds may be issued after July 1, 2026, and any remaining fund balances after project completion shall be used to pay debt service on the issued bonds

Bond income is exempt from state taxation and proceeds may only be used for the authorized airport improvements and costs related to bond issuance and sale