MS SB2120

Authorizes issuance of state general obligation bonds not to exceed $114,690 to assist Serenity on the Bayou in Anguilla, Mississippi with renovation and equipping costs for a building to house the Emmanuel Community Center.

Creates the "2025 Serenity on the Bayou Emmanuel Community Center Fund" as a special fund within the State Treasury to receive bond proceeds and disburse them for the project.

Bonds shall be issued by the State Bond Commission, mature within 25 years, and be fully backed by the full faith and credit of the State of Mississippi for principal and interest payments.

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

Bonds and income from bonds are exempt from state taxation and are legal investments for state trustees, fiduciaries, and financial institutions.