Bill > HB110

This bill authorizes the issuance of state general obligation bonds to provide financial assistance to the Towns of Pace and Benoit in Mississippi for park improvements. Specifically, the bill creates two separate special funds within the State Treasury: one for Pace and another for Benoit, each with a maximum bond issuance of $75,000. These funds can be used to cover costs associated with site grading, purchasing playground equipment, improving basketball courts, and making general playground improvements. The State Bond Commission will oversee the bond issuance process, with bonds to be issued no later than July 1, 2029. The bonds will be considered general obligations of the state, backed by Mississippi's full faith and credit, meaning if appropriated funds are insufficient, the State Treasurer can use other unappropriated funds to cover any shortfall. The bonds will be tax-exempt, can be validated through the Chancery Court, and are considered legal investments for various financial institutions. The bill provides detailed provisions for how the bonds will be structured, sold, and managed, ensuring transparency and fiscal responsibility in the process of supporting these local park improvement projects.

Budget and Finance

https://billstatus.ls.state.ms.us/2025/pdf/history/HB/HB0110.xml