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MS SB2202
Bill
AI Summary
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Authorizes Mississippi to issue general obligation bonds up to $500,000 to fund improvements to the Rolling Fork Civic and Event Center.
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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.
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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.
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Pledges the full faith and credit of Mississippi for bond repayment; any shortfall in appropriated funds shall be paid from the State Treasury.
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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