MS HB1233

Authorizes issuance of state general obligation bonds up to $1,500,000 to fund recreational facility improvements in Claiborne County, Mississippi, with bond issuance authority expiring July 1, 2028.

Creates the "2024 Claiborne County Recreational Facilities Improvements Fund" to disburse bond proceeds for five specific projects: Fairgrounds baseball field upgrades ($400,000), Pattison basketball court replacement ($200,000), three playground replacements ($300,000), Hermanville ball field pavilion and bathroom replacement ($300,000), and Fairgrounds softball field improvements ($300,000).

Pledges full faith and credit of the State of Mississippi to secure bonds, making them general obligations backed by state tax revenue if legislative appropriations prove insufficient.

Establishes State Bond Commission authority to determine bond terms including interest rates (not to exceed statutory limits), maturity dates (maximum 25 years), denominations, and sale methods through sealed bids or negotiated sale.

Exempts bond proceeds and investment earnings from state taxation and designates unused funds for debt service payments after projects are completed, abandoned, or cannot proceed in a timely manner.