MS SB2911

Authorizes issuance of state general obligation bonds not to exceed $610,000 to assist the Board of Supervisors of Quitman County in paying costs associated with restoration of the county courthouse in Marks, Mississippi.

Creates a special fund designated as the "2022 Quitman County Courthouse Restoration Fund" within the State Treasury to receive bond proceeds and disburse funds for the courthouse restoration project.

Bonds may be issued at any time or in multiple installments, with no bonds issued after July 1, 2026, and may mature up to 25 years from date of issue at interest rates not exceeding limits set in Mississippi Code Section 75-17-101.

Full faith and credit of the State of Mississippi is pledged to pay bond principal and interest; State Treasurer must pay any deficiencies from general state funds.

Bonds issued are tax-exempt in Mississippi and qualify as legal investments for trustees, fiduciaries, savings banks, trust companies, and insurance companies organized under state law.