MS HB1228

Authorizes the State Bond Commission to issue general obligation bonds not exceeding $350,000 to assist the City of New Albany, Mississippi with costs of its Wayfinding Signage Project.

Creates a special fund called the "2024 City of New Albany Wayfinding Signage Fund" within the State Treasury to receive and disburse bond proceeds for the project.

Bonds may mature up to 25 years from issuance, with interest rates not exceeding limits in Mississippi Code Section 75-17-101, and may be called for redemption at the State's option.

Full faith and credit of the State of Mississippi is pledged to pay principal and interest on the bonds; if legislative appropriations are insufficient, the State Treasurer must pay any deficiency from the General Treasury.

No bonds may be issued under this authority after July 1, 2028; any remaining fund balance after project completion shall be applied to pay bond debt service.