MS HB88

Authorizes the State Bond Commission to issue up to $250,000 in general obligation bonds to assist Holmes County, Mississippi with construction of a park and purchase of real property in Supervisors District 3.

Creates a special fund called the "2022 Holmes County Park Construction Fund" within the State Treasury to receive and disburse bond proceeds for the specified park project.

Bonds may be issued at any time or in multiple installments, but no bonds shall be issued after July 1, 2026, with a maximum maturity of 25 years from the date of issue.

Full faith and credit of the State of Mississippi is pledged to guarantee payment of principal and interest on the bonds, with any shortfall paid from the State Treasury.

Bonds are exempt from state taxation and may be validated in Chancery Court; any remaining fund balance after project completion shall be applied to pay debt service on the bonds.