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MS SB2202

Bill

Status

Failed

2/23/2022

Primary Sponsor

Joseph Thomas

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Origin

Senate

2022 Regular Session

AI Summary

  • Authorizes Mississippi to issue general obligation bonds up to $500,000 to fund improvements to the Rolling Fork Civic and Event Center.

  • Creates a special fund called the "2022 Rolling Fork Civic and Event Center Improvements Fund" within the State Treasury to receive bond proceeds and disburse funds to the City of Rolling Fork.

  • Grants the State Bond Commission authority to determine bond terms including interest rates (not exceeding Section 75-17-101 limits), maturity dates (up to 25 years), and sale methods, with no bonds to be issued after July 1, 2026.

  • Pledges the full faith and credit of Mississippi for bond repayment; any shortfall in appropriated funds shall be paid from the State Treasury.

  • Declares bonds as legal investments for trustees, fiduciaries, savings banks, and insurance companies, and exempts bond income from state taxation.

Legislative Description

Bonds; authorize issuance of general obligation bonds for improvements to Rolling Fork Civic and Event Center.

Last Action

Died In Committee

2/23/2022

Committee Referrals

Finance1/13/2022

Full Bill Text

No bill text available