MS HB203

Authorizes the State Bond Commission to issue general obligation bonds up to $2,500,000 to assist Holmes County Consolidated School District with construction of a football stadium and related facilities and purchase of real property.

Bonds shall mature within 25 years from date of issue, bear interest at rates not exceeding limits set by Mississippi Code Section 75-17-101, and are backed by the full faith and credit of the State of Mississippi.

Creates the "2024 Holmes County Consolidated School District Football Stadium Construction Fund" within the State Treasury to receive bond proceeds and disburse funds for the stadium project costs.

Bonds are general obligations of Mississippi with principal and interest payable from state appropriations, with any deficiency paid from the State Treasury; bonds are tax-exempt and legal investments for fiduciaries and financial institutions.

No bonds shall be issued after July 1, 2028; any remaining fund balances after project completion shall be applied to pay debt service on the issued bonds.