MS HB1667

Authorizes issuance of state general obligation bonds not to exceed $7,500,000 to assist Prentiss County, Mississippi with construction costs of an industrial building in the West Prentiss County Industrial Park in Booneville.

Creates a special fund called the "2022 Prentiss County Industrial Building Construction Fund" within the State Treasury to receive bond proceeds and disburse them for the project.

Bonds shall mature within 25 years, bear interest not exceeding limits in Mississippi Code Section 75-17-101, and may be redeemed before maturity; bonds are general obligations backed by the full faith and credit of the State.

Bonds and income therefrom are exempt from all state taxation and are legal investments for trustees, fiduciaries, savings banks, trust companies, and insurance companies organized under Mississippi law.

No bonds may be issued under this section after July 1, 2026, and the act takes effect July 1, 2022.