MS HB1881

Authorizes the State Bond Commission to issue up to $150,000 in general obligation bonds to assist the City of Jackson with improvements to Sykes Park, including construction, repair, renovation, and equipment upgrades.

Creates a special fund designated "2024 City of Jackson Sykes Park Improvements Fund" within the State Treasury to receive bond proceeds and disburse funds for the park improvements.

Bonds may mature up to 25 years from date of issue, with interest rates not exceeding limits in Mississippi Code Section 75-17-101, and are backed by the full faith and credit of the State of Mississippi.

Bond proceeds and interest earnings are exempt from Mississippi state taxation, and bond income may be used to pay debt service if projects are completed, abandoned, or cannot be completed timely.

No bonds may be issued under this act after July 1, 2028, and the act takes effect July 1, 2024.