MS HB1694

Authorizes the issuance of state general obligation bonds not to exceed $500,000 to assist the City of Gulfport with repairs, renovations, upgrades, and improvements to park areas at four facilities.

Creates the "2025 City of Gulfport Park Areas Improvement Fund" with funds distributed as follows: $125,000 each to Jack and Florence Goldin Sportsplex, 19th Street Community Center, Gaston Point Recreation Center, and 28th Street Park and Pavilion.

Bonds shall mature within 25 years from date of issue, bear interest at rates not exceeding limits set in Mississippi Code Section 75-17-101, and are backed by the full faith and credit of the State of Mississippi.

State Bond Commission shall serve as issuing agent, determine bond specifications and sale method, and may sell bonds through sealed bids at public sale or negotiate sales; all bond proceeds and issuance costs shall be paid from bond sale proceeds.

Bonds and income therefrom are exempt from state taxation and become effective July 1, 2025; no bonds may be issued after July 1, 2029.