MS HB1504

Authorizes the State Bond Commission to issue general obligation bonds not exceeding $480,000 to assist Claiborne County in paying costs for repair, renovation, and improvements to the Claiborne County Library building.

Bonds shall mature within 25 years, bear interest rates not exceeding limits in Section 75-17-101 of Mississippi Code, and are backed by the full faith and credit of the state.

Creates a special fund called the "2023 Claiborne County Library Building Improvement Fund" within the State Treasury to receive and disburse bond proceeds for the specified library project costs.

Prohibits bond issuance after July 1, 2027, and directs any remaining fund amounts to be applied toward debt service on the bonds after the project is completed, abandoned, or determined not feasible.

Bonds and investment income are exempt from state taxation and become effective July 1, 2023.