MS HB1883

Authorizes issuance of state general obligation bonds up to $500,000 to assist the City of Jackson in acquiring, demolishing, and removing blighted properties along and near U.S. Highway 80

Creates a special fund called the "2024 City of Jackson Blighted Properties Improvements Fund" within the State Treasury to receive bond proceeds and disburse funds for eligible project costs

Bonds may mature up to 25 years from issuance with interest rates not exceeding limits in Mississippi Code Section 75-17-101, with full faith and credit of the state pledged for repayment

State Bond Commission authorized to determine bond terms, sell bonds by public bid or negotiated sale, and manage issuance; no bonds may be issued after July 1, 2028

Bond income is exempt from state taxation and remaining fund balances after project completion shall be applied to pay debt service on the bonds