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MS SB2951
Bill
AI Summary
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Authorizes issuance of up to $1,000,000 in state general obligation bonds to assist the Gulf Coast Housing Partnership (GCHP) with development costs for "The Pearl" housing project in Jackson, Mississippi, serving low-income seniors
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Creates the "2022 Gulf Coast Housing Partnership 'The Pearl' Housing Project Fund" as a special fund within the State Treasury to receive and disburse bond proceeds
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Bonds may mature up to 25 years from date of issue, with interest payable semiannually or annually, and are exempt from all Mississippi state taxation
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Pledges the full faith and credit of the State of Mississippi for repayment of the bonds, with the State Treasurer authorized to pay principal and interest from state funds if appropriations are insufficient
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No bonds may be issued under this act after July 1, 2026
Legislative Description
Bonds; authorize issuance to assist Gulf Coast Housing Partnership in paying costs of The Pearl for low-income seniors.
Last Action
Died In Committee
2/23/2022