MS HB487

Authorizes issuance of state general obligation bonds not to exceed $50,000 to assist Alfred Alleman VFW Post 2539 in Gulfport, Mississippi with repair, renovation, and improvements to its post home building.

Creates the "2023 Alfred Alleman VFW Post 2539 Improvements Fund" within the State Treasury to receive bond proceeds and disburse funds at the discretion of the Department of Finance and Administration.

Bonds may mature up to 25 years from issuance, with interest rates not exceeding limits set in Section 75-17-101, Mississippi Code of 1972, and are exempt from state taxation.

State Treasurer and Department of Finance and Administration authorized to certify necessity for warrants and issue warrants to pay principal, interest, and premium on bonds when due.

No bonds may be issued after July 1, 2027; remaining funds after project completion shall be applied to pay debt service on the bonds; effective July 1, 2023.