MS HB738

Authorizes the State Bond Commission to issue general obligation bonds not exceeding $20,000 to provide funds to the City of Tupelo for Helping Hands Food Pantry building repair and renovation costs.

Bonds may mature up to 25 years from date of issue with interest rates not exceeding limits set in Mississippi Code Section 75-17-101, and may be redeemed before maturity at the Commission's discretion.

Creates a special fund called the "2025 Helping Hands Food Pantry Building Improvements Fund" within the State Treasury to receive bond proceeds and disburse funds to the City of Tupelo for the specified project.

Bonds are general obligations of Mississippi backed by the full faith and credit of the State, with any deficiency in appropriated funds to be paid by the State Treasurer from the State Treasury.

Bond issuance must occur by July 1, 2028; any remaining fund amounts after project completion or abandonment shall be applied toward debt service on the bonds, and bond income is exempt from Mississippi state taxation.