MS HB1355

Authorizes the State Bond Commission to issue general obligation bonds not exceeding $50,000 to assist Jefferson County, Mississippi in paying construction costs for a rodeo arena and related facilities.

Creates a special fund designated the "2023 Jefferson County Rodeo Arena Fund" within the State Treasury to receive bond proceeds and disburse funds for the rodeo arena project.

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

Bond proceeds and interest income are exempt from state taxation, and no bonds may be issued after July 1, 2027; any remaining funds after project completion shall be applied to debt service on the bonds.

Act takes effect July 1, 2023.