MS SB2928

Authorizes issuance of state general obligation bonds totaling up to $3,560,000.00 to assist Claiborne County with capital improvement projects.

Establishes the "2024 Claiborne County Capital Improvements Fund" within the State Treasury to receive and disburse bond proceeds for five specific projects: road improvements ($1,100,000), stormwater management ($250,000), county library renovations ($480,000), law enforcement facilities ($230,000), and recreational improvements ($1,500,000).

Bonds are general obligations of Mississippi backed by the full faith and credit of the state, with principal and interest payable from appropriated funds or state treasury if insufficient, and are tax-exempt.

State Bond Commission authorized to manage bond issuance, including determining terms, interest rates (not exceeding statutory limits), maturity dates (up to 25 years), and method of sale; all bonds must be issued by July 1, 2028.

Any bond proceeds remaining after project completion shall be applied to pay debt service on the issued bonds.