MS HB136

Authorizes issuance of up to $4,000,000 in state general obligation bonds to assist the City of Jackson with repair, renovation, upgrades, and improvements to 15 specified senior centers, community centers, and gymnasiums.

Creates a special fund designated "2025 City of Jackson Senior Centers, Community Centers and Gymnasiums Fund" within the State Treasury to receive bond proceeds and disburse funds for the projects at the discretion of the Department of Finance and Administration.

Bonds may mature up to 25 years from issuance at interest rates not to exceed limits in Section 75-17-101, Mississippi Code of 1972, and may be sold by sealed bid at public sale or by negotiation.

Full faith and credit of the State of Mississippi is pledged to pay bonds; any insufficient appropriated funds will be paid from the State Treasury by the State Treasurer.

Bond proceeds and income from the bonds are exempt from Mississippi state taxation; no bonds may be issued after July 1, 2029, and the act takes effect July 1, 2025.