MS HB692

Authorizes issuance of state general obligation bonds not to exceed $4,000,000 to assist the City of Holly Springs with construction, furnishing, and equipping of a wellness and aquatics center and related facilities.

Establishes the "2025 City of Holly Springs Wellness and Aquatics Center Construction Fund" as a special fund within the State Treasury to receive bond proceeds and disburse funds for the project.

Bonds may be issued at any time up to July 1, 2029, with maturity dates not exceeding 25 years, interest rates not exceeding limits in Mississippi Code Section 75-17-101, and terms determined by the State Bond Commission.

Bonds are general obligations of the State of Mississippi backed by the full faith and credit of the state; the State Treasurer must certify necessary warrants for principal and interest payments when due.

Investment earnings on fund amounts and any remaining funds after project completion shall be applied to pay debt service on the bonds; bonds and income therefrom are exempt from Mississippi state taxation.