MS HB965

Authorizes issuance of state general obligation bonds not to exceed $2,000,000 to fund construction, furnishing, and equipping of a Department of Mental Health group housing facility in Madison, Mississippi.

Facility is designated to provide housing and treatment for persons with mental illness who are homeless.

Bonds may mature up to 25 years from date of issue at interest rates not to exceed limits in Mississippi Code Section 75-17-101.

Full faith and credit of the State of Mississippi is pledged for bond repayment; State Treasurer must pay any deficiency from state treasury funds if legislative appropriations are insufficient.

No bonds may be issued under this act after July 1, 2027; unexpended bond proceeds remaining after project completion shall be applied to debt service on the bonds.