MS HB676

Authorizes issuance of up to $20,000,000 in state general obligation bonds to fund construction of new facilities and relocation of the Mississippi State Veterans Home in the Jackson metropolitan area.

Creates a special fund designated "2022 Mississippi State Veterans Home-Jackson Construction Fund" within the State Treasury to receive bond proceeds and disburse funds for project costs.

Bonds may be issued at any time until July 1, 2026, with maturity not exceeding 25 years from date of issue, and must be signed by the State Bond Commission chairman.

Full faith and credit of the State of Mississippi is pledged to repay bonds; any insufficient appropriated funds will be paid by the State Treasurer from general treasury funds.

Bonds and income are exempt from state taxation and qualify as legal investments for trustees, fiduciaries, banks, and insurance companies; remaining fund balances after project completion will be applied to bond debt service.