MS SB2091

Authorizes issuance of state general obligation bonds not to exceed $1,000,000 to assist the Housing Authority of the City of Canton in redeveloping 100 public housing units located in Canton.

Creates a special fund designated the "2025 Canton Housing Authority Redevelopment Fund" within the State Treasury to receive bond proceeds and disburse funds for project costs.

Bonds are general obligations of Mississippi with full faith and credit of the state pledged for repayment, with principal and interest payable from state funds if legislative appropriations are insufficient.

Bonds may be issued at any time until July 1, 2029, with maturity not exceeding 25 years from issuance and interest rates subject to Mississippi Code Section 75-17-101 limits.

Bond proceeds and any remaining funds are exempt from state taxation, and investment earnings from the special fund shall be applied toward debt service on the bonds.