MS SB2950

Authorizes issuance of up to $15,000,000 in state general obligation bonds to assist Hinds County Board of Supervisors with repair and renovation costs of the county detention center.

Creates a special fund designated the "2022 Hinds County Detention Center Fund" within the State Treasury to receive bond proceeds and disburse funds for the detention center project.

Bonds may be issued at any time or in multiple installments until July 1, 2026, with maturity dates not exceeding 25 years from issue.

Pledges the full faith and credit of the State of Mississippi for bond repayment; any insufficiency in appropriated funds shall be paid by the State Treasurer from general treasury funds.

Bonds are exempt from state taxation and any remaining fund balance after project completion shall be applied toward debt service on the bonds.