MS HB1664

Authorizes issuance of state general obligation bonds not to exceed $175,000 to assist the City of Port Gibson, Mississippi with repair, improvements, and upgrades to playground facilities.

Creates the "2025 City of Port Gibson Playground Facilities Fund" within the State Treasury to receive bond proceeds and disburse funds for the authorized projects.

Bonds are general obligations of the State of Mississippi backed by the full faith and credit of the state, with principal and interest payable from state funds if legislative appropriations are insufficient.

Bond maturity cannot exceed 25 years from date of issue, interest rates must comply with Mississippi Code Section 75-17-101, and bonds are exempt from state taxation.

No bonds may be issued after July 1, 2029; upon project completion or abandonment, remaining funds shall be applied to pay debt service on the bonds.