MS SB2381

Authorizes issuance of state general obligation bonds not exceeding $250,000 to assist South Pike School District with repair and renovation costs of school buildings.

Creates "2022 South Pike School District Building Repair and Renovation Fund" within State Treasury to receive bond proceeds and disburse funds for specified projects.

Bonds may mature up to 25 years from issue date with interest rates not exceeding limits in Section 75-17-101, Mississippi Code of 1972, and are backed by full faith and credit of the State of Mississippi.

No bonds may be issued under this authority after July 1, 2026, and any remaining fund balances after project completion shall be applied to bond debt service.

Bonds and income therefrom are exempt from all taxation in Mississippi and are legal investments for trustees, fiduciaries, savings banks, and insurance companies.