MS HB667

Authorizes the issuance of state general obligation bonds in an amount not to exceed $527,000 to assist the Town of Bude, Mississippi with relocation, repair, renovation, restoration, furnishing and equipping of the Bude Depot and the depot caboose.

Creates a special fund called the "2024 Town of Bude Depot Fund" within the State Treasury to receive bond proceeds and disburse funds for the specified projects under the discretion of the Department of Finance and Administration.

Bonds shall be issued by the State Bond Commission with a maturity period not to exceed 25 years, bear interest rates compliant with 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 under this act after July 1, 2028, and any remaining funds after project completion shall be applied to pay debt service on the issued bonds.

The act takes effect July 1, 2024.