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MS SB2122

Bill

Status

Failed

2/26/2025

Primary Sponsor

Joseph Thomas

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Origin

Senate

2025 Regular Session

AI Summary

  • Authorizes the issuance of state general obligation bonds not to exceed $300,000 to fund repair and renovation costs of the Triangle Cultural Center in Yazoo City, Mississippi, including the Museum of the Yazoo Historical Society portion.

  • Creates a special fund designated the "2025 Triangle Cultural Center Repair and Renovation Fund" within the State Treasury to receive bond proceeds and disburse funds for project costs.

  • Specifies that bonds mature within 25 years, bear interest at rates not exceeding limits in Section 75-17-101, and may be redeemed before maturity at the State's option.

  • Pledges the full faith and credit of the State of Mississippi to guarantee bond payments, with any payment deficiencies covered by the State Treasurer from unappropriated state funds.

  • Prohibits bond issuance after July 1, 2029, and directs any remaining fund balance after project completion to pay debt service on the bonds.

Legislative Description

Bonds; authorize issuance of general obligation bonds for repair and renovation of Triangle Cultural Center in Yazoo City.

Last Action

Died In Committee

2/26/2025

Committee Referrals

Finance1/17/2025

Full Bill Text

No bill text available