MS SB2702

Extends the deadline for issuing general obligation bonds for the Emerging Crops Fund from October 1, 2023 to October 1, 2027.

Maintains the maximum aggregate bond issuance cap of $114,000,000, plus two additional allowances: up to $2,000,000 for purposes under Section 69-2-13(14) and up to $17,000,000 for purposes under Section 69-2-13(16).

Reaffirms that the full faith, credit, and taxing power of Mississippi are pledged to pay bond principal and interest, with ad valorem tax levied if General Fund appropriations are insufficient.

Establishes that the State Bond Commission may issue bonds or alternative coupon notes with maturities up to 20 years and 5 years respectively, with terms set by the Commission.

Confirms bonds and notes are exempt from state taxation (except gift, transfer, and inheritance taxes) and are legal investments for Mississippi financial institutions.