Bill > HB114

This bill authorizes the State of Mississippi to issue up to $1.2 million in general obligation bonds to assist Bolivar County in funding the third phase of the Terrene Landing River Park project near Rosedale. The bonds will be issued by the State Bond Commission and will be general obligations of the state, meaning the state's full faith and credit is pledged to repay them if necessary. A special fund called the "2025 Bolivar County Terrene Landing River Park Fund" will be created in the State Treasury to receive and manage the bond proceeds, with funds to be disbursed by the Department of Finance and Administration specifically for the river park project. The bonds can be issued anytime before July 1, 2029, will have a maximum maturity of 25 years, and will be exempt from state taxation. If the project is completed, abandoned, or cannot be finished in a timely manner, any remaining funds will be applied to debt service on the bonds. The State Treasurer and Department of Finance and Administration are authorized to handle the technical aspects of issuing and managing these bonds, and the bill provides detailed provisions for their issuance, sale, and validation.

Budget and Finance

https://billstatus.ls.state.ms.us/2025/pdf/history/HB/HB0114.xml