MS HB969

Authorizes the issuance of state general obligation bonds not to exceed $1,200,000 to assist Bolivar County, Mississippi with costs associated with the fourth phase of development of the Terrene Landing River Park project near Rosedale.

Creates a special fund designated the "2024 Bolivar County Terrene Landing River Park Fund" within the State Treasury to receive and disburse bond proceeds, with unexpended amounts and interest earnings remaining in the fund rather than reverting to the General Fund.

Bonds may mature up to 25 years from date of issue at interest rates not exceeding limits set in Section 75-17-101, Mississippi Code of 1972, and are backed by the full faith and credit of the State of Mississippi.

Bond income is exempt from all Mississippi state taxation, and remaining fund amounts after project completion shall be applied to pay debt service on the issued bonds.

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