MS HB1912

Authorizes the State Bond Commission to issue general obligation bonds not exceeding $50,000 to assist the City of Jackson with improvements to Livingston Park.

Creates a special fund called the "2024 City of Jackson Livingston Park Improvements Fund" to receive bond proceeds and disburse funds for park improvements and broadband infrastructure ($20,000 for facilities/infrastructure improvements and $30,000 for broadband equipment and installation).

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.

No bonds may be issued after July 1, 2028, and any unexpended funds remaining after project completion shall be applied to pay debt service on the issued bonds.

Takes effect July 1, 2024.