MS SB3089

Authorizes the State Bond Commission to issue up to $1,600,000 in general obligation bonds to assist Pearl River County Board of Supervisors with costs of the Pearl River County Industrial Park project.

Bonds may mature up to 25 years from date of issue with interest rates not exceeding limits set in Mississippi Code Section 75-17-101.

Creates the "2022 Pearl River County Industrial Park Fund" within the State Treasury to receive bond proceeds, with funds disbursed by the Department of Finance and Administration to Pearl River County.

Full faith and credit of the State of Mississippi is pledged to back the bonds, with any payment deficiency covered by the State Treasurer from unappropriated funds.

No bonds may be issued under this act after July 1, 2026, and any remaining fund balance after project completion shall be applied to pay debt service on the issued bonds.