MS HB1735

Authorizes issuance of state general obligation bonds not to exceed $350,000 to assist Community Health and Wellness Center, Inc. with repair and renovation of its health care facility in Isola, Mississippi.

Creates a special fund designated "2024 Isola Community Health and Wellness Center Fund" within the State Treasury to receive bond proceeds and disburse funds for the 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 are backed by the full faith and credit of the State of Mississippi.

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

Bonds and income therefrom are exempt from all taxation in Mississippi and qualify as legal investments for trustees, fiduciaries, and financial institutions.