MS HB163

Authorizes the State Bond Commission to issue general obligation bonds not exceeding $300,000 to fund improvements to Martin Luther King Park in Clarksdale, Mississippi.

Bond proceeds will finance construction, repair, renovation, and improvements including tennis courts, skate ramp, aquatic center, amphitheater, gazebos, outdoor fitness court, playground equipment, botanical garden, walking trails with historical markers, and memorial trees.

Creates a special fund designated "2024 City of Clarksdale Martin Luther King Park Improvements Fund" within the State Treasury to receive bond proceeds and disburse funds to the City of Clarksdale.

Bonds are general obligations of the State of Mississippi with full faith and credit pledged; bonds are exempt from state taxation and mature no later than 25 years from issuance.

No bonds may be issued under this authority after July 1, 2028; any remaining fund amounts after project completion shall be applied to pay debt service on the bonds.