MS HB156

Authorizes the State Bond Commission to issue general obligation bonds not exceeding $4,000,000 to assist the City of Jackson with repair, renovation, and improvements to 15 specified senior centers, community centers, and gymnasiums.

Creates a special fund called the "2024 City of Jackson Senior Centers, Community Centers and Gymnasiums Fund" to receive bond proceeds and disburse funds for authorized projects.

Bonds may mature up to 25 years from issuance with interest rates not exceeding limits in Mississippi Code Section 75-17-101; no bonds may be issued after July 1, 2028.

Bonds are general obligations of the State of Mississippi backed by full faith and credit; the State Treasurer must pay any deficiencies from the General Fund if appropriated funds are insufficient.

Bond proceeds and investment earnings on the fund shall be used for project costs, with any remaining amounts applied to debt service on the bonds after projects are completed or abandoned.