MS SB2114

Authorizes issuance of state general obligation bonds not to exceed $350,000 to assist Community Health and Wellness Center, Inc. with repair and renovation costs of its health care facility in Isola, Mississippi.

Creates a special fund designated "2024 Isola Community Health and Wellness Center Fund" within the State Treasury to receive bond proceeds and disburse funds for the project.

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

No bonds may be issued under this act after July 1, 2028; any remaining funds after project completion shall be applied to pay debt service on the bonds.

Bonds are exempt from state taxation and qualify as legal investments for trustees, fiduciaries, savings banks, trust companies, and insurance companies in Mississippi.