MS SB2894

Authorizes issuance of state general obligation bonds up to $500,000 to fund repair, renovation, upgrades, and improvements to the City of Pearl's city hall building and related facilities.

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

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

Establishes that the State Bond Commission shall act as issuing agent, determine bond terms and sale methods, and may sell bonds through sealed bids at public sale or negotiated sale.

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