MS HB93

Authorizes issuance of state general obligation bonds not to exceed $150,000 to assist Mississippi Minority Farmers Alliance with repair of its building and parking lot in Monroe County.

Creates the "2023 Mississippi Minority Farmers Alliance Building Repair Fund" within the State Treasury to receive bond proceeds and disburse funds for project costs.

Bonds shall mature within 25 years, bear interest at rates not exceeding Section 75-17-101 limits, and may be sold by sealed bid or negotiated sale at the State Bond Commission's discretion.

Bonds are general obligations of Mississippi with full faith and credit pledged; deficiency payments shall come from the State Treasury if appropriated funds are insufficient.

Bond proceeds and investment earnings are exempt from state taxation; bonds may not be issued after July 1, 2027, and the act becomes effective July 1, 2023.