MS HB207

Authorizes issuance of state general obligation bonds not to exceed $40,000,000 to fund construction, furnishing, and equipping of a hotel, multi-purpose arena, basketball court, and athletic practice facility at the City Plaza Project on Terry Road in Jackson, Mississippi.

Limits bond issuance to no more than $675,000 per fiscal year, with all bonds required to be issued by July 1, 2028.

Establishes the "2024 City Plaza Project Fund" as a special fund in the State Treasury to receive bond proceeds and disburse funds for project costs; unexpended amounts do not lapse and interest earnings remain in the fund.

Bonds are general obligations of the State of Mississippi backed by full faith and credit; principal and interest are exempt from state taxation and legal investments for fiduciaries and financial institutions.

Permits the State Bond Commission to determine bond terms including maturity (not to exceed 25 years), interest rates, and redemption options; allows sale by sealed bid public auction or negotiated sale.