MS SB3140

Authorizes issuance of up to $250,000 in State of Mississippi general obligation bonds to help the City of Houston, Mississippi renovate the historic Houston Theater

Creates the "2022 City of Houston Historic Theater Fund" within the State Treasury to hold bond proceeds, with funds to be disbursed at the discretion of the Department of Finance and Administration

Bonds may mature up to 25 years from date of issue, are tax-exempt in Mississippi, and are backed by the full faith and credit of the state

No bonds may be issued under this act after July 1, 2026

Any remaining funds after project completion, abandonment, or certification that the project cannot be completed in a timely manner must be applied to pay debt service on the bonds