MS SB2201

Authorizes issuance of state general obligation bonds not to exceed $540,000 to fund the West Central Mississippi Incubator Grant Program in Humphreys, Madison, Sharkey, Sunflower, Washington, and Yazoo Counties.

Creates a special fund designated the "2022 West Central Mississippi Incubator Grant Program Fund" within the State Treasury to be maintained separately from the General Fund, with unexpended amounts and investment earnings remaining in the fund.

Grants the State Bond Commission authority to issue, sell, and manage the bonds, including determining the form, sale method, and terms of bonds with maturity not exceeding 25 years from issuance date.

Designates bonds as general obligations of Mississippi with full faith and credit pledged; bonds are tax-exempt and legal investments for fiduciaries, banks, and insurance companies.

Sets July 1, 2026 as the deadline for bond issuance; any remaining fund balances after project completion shall be applied to pay debt service on the bonds.