MS HB441

Authorizes issuance of state general obligation bonds not to exceed $500,000 to assist the City of Pearl, Mississippi with repair, renovation, and improvements to its City Hall building and related facilities.

Creates a special fund called the "2024 City of Pearl City Hall Improvements Fund" within the State Treasury to receive bond proceeds and disburse them for the authorized projects.

Bonds may mature up to 25 years from issuance date with interest rates not exceeding limits in Mississippi Code Section 75-17-101, with principal and interest backed by the full faith and credit of the State of Mississippi.

Bonds may not be issued after July 1, 2028, and any remaining fund balance after project completion shall be applied to pay debt service on the bonds.

Bonds and income therefrom are exempt from all taxation in Mississippi and are legal investments for trustees, fiduciaries, banks, and insurance companies organized under Mississippi law.