MS HB541

Authorizes issuance of state general obligation bonds not to exceed $2,500,000 to assist Holmes County Consolidated School District with construction of a football stadium and related facilities and purchase of real property for those purposes.

Creates a special fund designated "2025 Holmes County Consolidated School District Football Stadium Construction Fund" within the State Treasury to receive bond proceeds and disburse funds for the project.

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

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

Bond proceeds are exempt from state taxation, and the bonds constitute legal investments for trustees, fiduciaries, savings banks, trust companies, and insurance companies organized under Mississippi law.