MS HB236

Authorizes the State Bond Commission to issue general obligation bonds not exceeding $150,000 to assist Mississippi Minority Farmers Alliance with repair of its building and parking lot in Monroe County.

Bonds may mature up to 25 years from issuance, bear interest at rates not exceeding limits in Mississippi Code Section 75-17-101, and must be issued by July 1, 2029.

Creates the "2025 Mississippi Minority Farmers Alliance Building Repair Fund" within the State Treasury to receive bond proceeds, with funds disbursed by the Department of Finance and Administration for project costs.

Pledges the full faith and credit of the State of Mississippi to guarantee bond repayment; any funds remaining after project completion shall be applied to debt service on the bonds.

Takes effect July 1, 2025; bonds and income are exempt from state taxation and qualify as legal investments for trustees, fiduciaries, banks, and insurance companies.