MS SB3142

Authorizes issuance of state general obligation bonds not to exceed $300,000 to assist the Town of Shannon, Mississippi, in constructing, furnishing, and equipping a community center.

Creates a special fund designated as the "2022 Town of Shannon Community Center Fund" within the State Treasury to receive and disburse bond proceeds for the project.

Establishes that bonds shall be general obligations of the State of Mississippi with full faith and credit pledged, bear interest not exceeding limits in Mississippi Code Section 75-17-101, and mature within 25 years.

Grants the State Bond Commission authority to determine bond terms, sell bonds through sealed bid or negotiated sale, and manage all aspects of bond issuance and administration.

Requires all bonds be issued by July 1, 2026, with any remaining funds after project completion applied to debt service on the bonds.