MS SB2070

Authorize issuance of state general obligation bonds not to exceed $350,000 to assist Community Health and Wellness Center, Inc. with repair and renovation costs of its health care facility in Isola, Mississippi.

Create a special fund designated the "2022 Isola Community Health and Wellness Center Fund" within the State Treasury to receive bond proceeds and disburse funds for the project.

Bonds may be issued at any time or from time to time up until July 1, 2026, with interest rates not exceeding limits set in Mississippi Code Section 75-17-101 and maturity dates not exceeding 25 years from issuance.

Bonds are general obligations of the State of Mississippi backed by full faith and credit of the state, with principal and interest paid by the State Treasurer from the Treasury if appropriated funds are insufficient.

Bond proceeds are exempt from state taxation, and any remaining funds after project completion shall be applied to pay debt service on the bonds.