MS HB183

Authorizes issuance of state general obligation bonds not to exceed $1,700,000 to assist the City of Olive Branch with repair, renovation, expansion, and improvements to the historic Maples Methodist Church building for use as a community events center and theater.

Bonds may mature up to 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.

Creates a special fund titled "2025 City of Olive Branch Historic Maples Methodist Church Fund" within the State Treasury to receive bond proceeds and disburse funds for the specified projects.

Authorizes the State Bond Commission to determine bond terms, manage the sale process, and pay issuance costs from bond proceeds; no bonds may be issued after July 1, 2029.

Bonds and income therefrom are exempt from all Mississippi state taxation, and any remaining fund balance after project completion shall be applied to pay debt service on the bonds.