MS HB1053

Authorizes issuance of up to $1,000,000 in state general obligation bonds to assist Hinds County in acquiring, removing, and demolishing dilapidated and blighted properties in House District 68.

Creates the "2025 Hinds County Dilapidated and Blighted Properties Improvements Fund" within the State Treasury to receive bond proceeds and any investment earnings, with unexpended amounts not lapsing at fiscal year end.

Establishes that bonds shall be general obligations of the state with full faith and credit pledged for repayment, bearing interest rates not to exceed limits in Mississippi Code Section 75-17-101, and maturing within 25 years of issuance.

Grants the State Bond Commission authority to determine bond terms, advertise for bids, sell bonds, and manage issuance; prohibits bond issuance after July 1, 2029.

Makes bonds tax-exempt in Mississippi and allows them to serve as legal investments for trustees, fiduciaries, banks, and insurance companies; effective July 1, 2025.