MS SB3109

Authorizes issuance of state general obligation bonds not to exceed $2,000,000 to assist the City of Greenville, Mississippi with redevelopment costs for Hangar 173 at Greenville Mid-Delta Airport.

Bonds must be issued by July 1, 2026, with a maximum maturity of 25 years and interest rates subject to Mississippi Code Section 75-17-101.

Creates a special fund designated "2022 Greenville Mid-Delta Airport Hangar 173 Fund" to receive bond proceeds for redevelopment costs and educational/career training purposes by Mississippi Delta Community College.

Establishes that bonds are general obligations of the State of Mississippi backed by the full faith and credit of the state, exempt from state taxation, and eligible as legal investments for trustees, banks, and insurance companies.

Remaining funds in the special fund after project completion or abandonment shall be applied to pay debt service on the issued bonds.