MS HB194

Authorizes issuance of state general obligation bonds not to exceed $150,000 to assist the Town of Metcalfe, Mississippi with repair and renovation costs of the town park.

Creates a special fund designated "2023 Town of Metcalfe Park Repair and Renovation Fund" within the State Treasury to receive bond proceeds and disburse funds for the specified project.

Bonds may mature up to 25 years from date of issue with interest rates not to exceed limits set in Mississippi Code Section 75-17-101, and cannot be issued after July 1, 2027.

Full faith and credit of the State of Mississippi is pledged to pay bonds; State Treasurer must certify to Department of Finance and Administration for warrant issuance to cover principal, interest, and premiums when due.

Bonds and income are exempt from all taxation in Mississippi and qualify as legal investments for trustees, fiduciaries, savings banks, trust companies, and insurance companies organized under Mississippi law.