MS HB1525

Authorizes the State Bond Commission to issue general obligation bonds totaling up to $100,000 to fund the Refill Jackson Initiative's facility repairs, renovations, updates, training opportunities, and expanded class sizes.

Creates a special "2023 Refill Jackson Initiative Fund" within the State Treasury to receive bond proceeds, with funds disbursed at the discretion of the Department of Finance and Administration for specified project costs.

Bonds shall be general obligations of Mississippi with full faith and credit pledged by the state, bear interest at rates not exceeding Section 75-17-101 limits, and mature within 25 years of 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, and investment earnings shall also be used for debt service.

Bonds are exempt from Mississippi state taxation and qualify as legal investments for trustees, fiduciaries, savings banks, and insurance companies; the act becomes effective July 1, 2023.