MS SB2024

Authorizes issuance of state general obligation bonds up to $350,000 to assist Community Health and Wellness Center, Inc. with repair and renovation costs for its health care facility in Isola, Mississippi.

Creates a special fund called the "2023 Isola Community Health and Wellness Center Fund" within the State Treasury to receive and disburse bond proceeds for the project.

Bonds may mature up to 25 years from date of issue with interest rates not exceeding limits set in Mississippi Code Section 75-17-101, and no bonds may be issued after July 1, 2027.

Full faith and credit of the State of Mississippi is pledged to pay bonds; any shortfall from appropriated funds shall be paid by the State Treasurer from unappropriated state funds.

Bond proceeds are tax-exempt and qualify as legal investments for trustees, fiduciaries, savings banks, and insurance companies in Mississippi.