MS HB349

Authorizes issuance of state general obligation bonds not to exceed $527,000 to assist the Town of Bude, Mississippi with relocation and restoration of the Bude Depot and depot caboose.

Creates a special fund titled "2023 Town of Bude Depot Fund" within the State Treasury to receive bond proceeds and disburse funds for the authorized projects.

Bonds may be issued at any time or in multiple installments, but no bonds shall be issued after July 1, 2027.

Full faith and credit of the State of Mississippi is pledged to secure the bonds; any shortfall in appropriated funds for principal and interest payments shall be paid from the State Treasury.

Bond proceeds may be applied to debt service on the bonds if projects are completed, abandoned, or cannot be completed in a timely fashion; investment earnings on the fund shall also be used for debt service.