MS HB43

Authorizes the State Bond Commission to issue up to $500,000 in general obligation bonds to assist the City of Pearl, Mississippi with repair, renovation, upgrades, and improvements to its City Hall building and related facilities.

Creates a special fund designated the "2023 City of Pearl City Hall Improvements Fund" within the State Treasury to receive bond proceeds and disburse funds for the City Hall project costs.

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

Bonds and income from bonds are exempt from all state taxation, and the State Treasurer must certify necessary warrants to the Department of Finance and Administration to pay principal and interest when due.

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 issued bonds.