MS HB90

Authorizes issuance of up to $2,500,000 in state general obligation bonds to assist Holmes County Consolidated School District with construction of a football stadium and related facilities and purchase of real property.

Creates the "2022 Holmes County Consolidated School District Football Stadium Construction Fund" within the State Treasury to receive bond proceeds and disburse funds for stadium construction costs.

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

Full faith and credit of the State of Mississippi is pledged to guarantee bond payment; if appropriated funds are insufficient, the State Treasurer shall pay any deficiency from available state funds.

Bonds and interest income are exempt from all state taxation and may be validated through the Chancery Court of Hinds County's First Judicial District.