MS HB151

Authorizes issuance of state general obligation bonds up to $15,000,000 for the Okolona Municipal Separate School District to fund construction, furnishing, and equipping of a new elementary school and related facilities, including a playground.

Creates a special fund designated "2024 Okolona Municipal Separate School District Elementary School Fund" within the State Treasury to receive bond proceeds and disburse funds for the authorized projects.

Bonds may have maturity dates up to 25 years, with interest rates not exceeding limits set in Mississippi Code Section 75-17-101, and are backed by the full faith and credit of the State of Mississippi.

Bond proceeds and income are exempt from state taxation, and no bonds may be issued under this authority after July 1, 2028.

Establishes procedures for the State Bond Commission to issue, sell, and manage the bonds, with the State Treasurer responsible for certifying warrant amounts needed to pay principal and interest as due.