MS HB158

Authorizes the State Bond Commission to issue up to $2,000,000 in general obligation bonds to assist the City of Jackson with costs of constructing a parking lot and related facilities for the Jackson Convention Center.

Bonds may have interest rates set by the commission (not to exceed limits in Mississippi Code Section 75-17-101), mature within 25 years, and include standard bond features such as redemption options and registration privileges.

Creates a special fund called the "2024 City of Jackson Convention Center Parking Lot Fund" within the State Treasury to receive bond proceeds and disburse funds for the parking lot project; any remaining funds after project completion shall be applied to bond debt service.

Bonds are backed by the full faith and credit of the State of Mississippi; bonds are exempt from state taxation and qualify as legal investments for trustees, fiduciaries, and financial institutions in Mississippi.

All bonds must be issued by July 1, 2028, and the act takes effect July 1, 2024.