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MS SB2213
Bill
Status
2/23/2022
Primary Sponsor
Derrick Simmons
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AI Summary
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Authorizes the issuance of state general obligation bonds not to exceed $150,000 to assist the City of Rosedale, Mississippi in paying costs associated with repair and renovation of the city park.
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Creates a special fund designated as the "2022 City of Rosedale Park Repair and Renovation Fund" within the State Treasury to receive bond proceeds and disburse funds for the specified project.
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Establishes that bonds shall be general obligations of the State of Mississippi with full faith and credit pledged for repayment, with principal and interest payable within 25 years from date of issue.
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Grants the State Bond Commission authority to determine bond terms including interest rates, maturity dates, redemption options, and to manage the sale and issuance of bonds through public or negotiated sales.
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Prohibits bond issuance after July 1, 2026, and requires the Department of Finance and Administration to certify project necessity before the commission may proceed with bond issuance.
Legislative Description
Bonds; authorize issuance to assist City of Rosedale in paying costs of repair and renovation of city park.
Last Action
Died In Committee
2/23/2022