MS SB2744

Authorizes issuance of state general obligation bonds not to exceed $980,000 to assist Sunflower County Ministerial Alliance Counseling Services (SCMACS), Inc. in constructing a transitional shelter in Indianola, Mississippi.

Creates a special fund designated "2022 Sunflower County Ministerial Alliance Counseling Services Fund" within the State Treasury to receive bond proceeds and disburse funds for shelter construction and related housing and skills empowerment services.

Bonds may mature up to 25 years from issuance with interest rates not exceeding limits in Mississippi Code Section 75-17-101; bonds are general obligations pledged with full faith and credit of the State of Mississippi.

No bonds may be issued under this authorization after July 1, 2026; unexpended fund amounts and investment earnings shall be applied to debt service on the issued bonds.

Bonds are exempt from state taxation and constitute legal investments for trustees, fiduciaries, banks, and insurance companies; State Bond Commission is authorized to sell bonds by sealed bid or negotiated sale.