MS HB65

Authorizes issuance of state general obligation bonds not to exceed $20,000 to provide funds to the City of Tupelo for Helping Hands Food Pantry's building repair and renovation costs.

Creates the "2022 Helping Hands Food Pantry Building Improvements Fund" as a special fund within the State Treasury to receive and disburse bond proceeds, with unexpended amounts not reverting to the General Fund.

Bonds may be issued until July 1, 2026, with maturity not to exceed 25 years from issuance and interest rates subject to Mississippi Code Section 75-17-101 limits.

Bonds are general obligations of the State of Mississippi backed by full faith and credit, with the State Treasurer authorized to pay principal and interest from state funds if appropriations are insufficient.

Bond proceeds are exempt from state taxation and constitute legal investments for trustees, fiduciaries, savings banks, trust companies, and insurance companies in Mississippi.