MS HB417

Authorizes the issuance of state general obligation bonds not to exceed $150,000 to assist the Town of Metcalfe, Mississippi, with repair and renovation costs for the town park.

Creates a special fund designated as the "2025 Town of Metcalfe Park Repair and Renovation Fund" within the State Treasury to receive bond proceeds and disburse funds for the project.

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 Treasurer and Department of Finance and Administration are authorized to certify necessity for and issue warrants to pay principal and interest on bonds when due.

No bonds may be issued under this act after July 1, 2029; any remaining funds after project completion shall be applied to pay debt service on the bonds.