MS HB1690

Authorizes issuance of state general obligation bonds not to exceed $4,000,000 to assist the City of Jackson with repair, renovation, and improvements to 15 senior centers, community centers, and gymnasiums.

Creates the "2022 City of Jackson Senior Centers, Community Centers and Gymnasiums Fund" within the State Treasury to receive bond proceeds and disburse funds for project costs.

Bonds may mature up to 25 years from issuance, bear interest at rates not exceeding limits set in Mississippi Code Section 75-17-101, and are backed by the full faith and credit of the state.

Bond proceeds shall be used for specified projects including Smith Robertson Center, Westside Center, Sykes Park Center, Champion Gymnasium, Medgar Evers Gymnasium, and others listed in the bill.

No bonds may be issued after July 1, 2026; any remaining fund balance after project completion shall be applied to pay bond debt service, and investment earnings on the fund shall also be used for debt service.