MS HB1251

Authorizes issuance of state general obligation bonds not to exceed $1,000,000 to assist the City of Jackson in acquiring, removing, and demolishing dilapidated and blighted properties near state grounds and within or near the Farish Street Historic District

Creates a special fund called the "2023 City of Jackson Dilapidated and Blighted Properties Improvements Fund" to receive bond proceeds and disburse funds to the city for eligible project costs

Bonds may mature up to 25 years from issuance, bear interest rates not exceeding limits set in Mississippi Code Section 75-17-101, and are general obligations backed by the full faith and credit of the State of Mississippi

State Bond Commission authorized to determine bond terms, manage sales through sealed bids or negotiation, and oversee issuance; no bonds may be issued after July 1, 2027

Any remaining fund balance after project completion shall be applied to pay debt service on the bonds; investment earnings on the fund shall also be used for debt service