MS HB1882

Authorizes the State Bond Commission to issue up to $150,000 in general obligation bonds to assist the City of Jackson with improvements to Forest Hill Park.

Bonds may mature up to 25 years from issuance, with interest rates not to exceed limits in Mississippi Code Section 75-17-101, and may be called for redemption at the State's option.

Creates the "2024 City of Jackson Forest Hill Park Improvements Fund" as a special state treasury fund for disbursement to cover construction, repair, renovation, and equipment upgrades at Forest Hill Park.

Pledges the full faith and credit of the State of Mississippi to pay bond principal and interest; bonds are exempt from state taxation and qualify as legal investments for trustees and financial institutions.

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