MS HB1688

Authorizes the State Bond Commission to issue general obligation bonds not exceeding $350,000 to assist Hinds County in acquiring, removing, and demolishing blighted properties.

Bonds may mature up to 25 years from issuance with interest rates not exceeding limits in Section 75-17-101, Mississippi Code of 1972, and are backed by the full faith and credit of the State of Mississippi.

Creates the "2025 Hinds County Blighted Properties Fund" within the State Treasury to receive bond proceeds, which shall be disbursed by the Department of Finance and Administration for eligible project costs.

Bond proceeds and investment earnings on the fund are exempt from state taxation; any remaining funds after project completion shall be applied to pay debt service on the bonds.

Bonds cannot be issued after July 1, 2029, and the act takes effect July 1, 2025.