MS HB1690

Authorizes the State Bond Commission to issue general obligation bonds not to exceed $150,000 to assist the City of Jackson with upgrades and improvements to VA Legion Sports Complex, Jayne Avenue Park, and Battlefield Park.

Creates a special "2023 City of Jackson Parks Fund" within the State Treasury to receive bond proceeds and disburse funds for the specified park projects.

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

No bonds may be issued under this act after July 1, 2027, and any remaining fund balance after project completion shall be applied to pay debt service on the bonds.

Becomes effective July 1, 2023.