Bill > HB183

This bill authorizes the State of Mississippi to issue up to $1.7 million in general obligation bonds to help the City of Olive Branch renovate and improve the historic Maples Methodist Church building, with the goal of transforming it into a community events center and theater. The State Bond Commission will manage the bond issuance process, determining details like interest rates, maturity dates, and sale methods, with bonds to be repaid using the state's full faith and credit. A special "2025 City of Olive Branch Historic Maples Methodist Church Fund" will be created in the State Treasury to receive and manage the bond proceeds, and funds will be disbursed by the Department of Finance and Administration to cover renovation and improvement costs. The bonds will be legal investments for financial institutions, exempt from state taxation, and can be issued anytime before July 1, 2029. If the project is completed, abandoned, or cannot be finished in a timely manner, any remaining funds will be applied to paying off the bond debt. The bill provides detailed provisions for bond issuance, validation, and management, ensuring transparency and proper use of state funds for this local historic preservation and community development project.

Budget and Finance

https://billstatus.ls.state.ms.us/2025/pdf/history/HB/HB0183.xml