MS HB160

Authorizes the issuance of state general obligation bonds not to exceed $150,000 to assist the Town of Metcalfe, Mississippi in paying costs for repair and renovation of the town park.

Creates a special fund designated "2024 Town of Metcalfe Park Repair and Renovation Fund" within the State Treasury to receive bond proceeds and disburse funds for the specified project.

Bonds may mature up to 25 years from date of issue with interest rates not exceeding limits set in Mississippi Code Section 75-17-101, and cannot be issued after July 1, 2028.

Pledges the full faith and credit of the State of Mississippi to pay bond principal and interest; any deficiency shall be paid from the State Treasury.

Bond income is exempt from Mississippi state taxation, and any remaining funds after project completion shall be applied to pay debt service on the bonds.