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MS SB3081
Bill
AI Summary
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Authorizes issuance of up to $2,500,000 in state general obligation bonds to assist the City of Saltillo, Mississippi, in constructing, furnishing, and equipping a tennis court complex at Saltillo High School for public use
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Creates the "2022 City of Saltillo Tennis Court Complex Fund" as a special fund within the State Treasury to hold bond proceeds, with unexpended amounts and interest earnings remaining in the fund rather than lapsing to the General Fund
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Bonds may mature up to 25 years from date of issue and are backed by the full faith and credit of the State of Mississippi
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Bonds and income from them are exempt from all state taxation and qualify as legal investments for trustees, fiduciaries, savings banks, trust companies, and insurance companies
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No bonds may be issued under this act after July 1, 2026
Legislative Description
Bonds; authorize issuance to assist City of Saltillo in paying costs of construction of public tennis court complex.
Last Action
Died In Committee
2/23/2022