MS HB202

Authorizes issuance of state general obligation bonds not to exceed $354,000 to assist the Town of Duncan, Mississippi with construction, upgrades, and improvements to its walking trail.

Establishes the "2024 Town of Duncan Walking Trail Extension Fund" within the State Treasury to receive bond proceeds and disburse funds for the walking trail project.

Bonds shall mature within 25 years, bear interest at rates not exceeding limits set by Mississippi law, and may be sold through public auction or negotiated sale as determined by the State Bond Commission.

Bonds are backed by the full faith and credit of the State of Mississippi, and the State Treasurer must ensure principal and interest payments are made when due from any available state funds.

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