Bill > HB480

This bill authorizes the State of Mississippi to issue up to $300,000 in general obligation bonds to help the City of Clarksdale fund improvements to Martin Luther King Park. The State Bond Commission will manage the bond issuance, with bonds to be repaid using the state's full faith and credit and maturing within 25 years. The funds will specifically support park upgrades including new tennis courts, a skate ramp, aquatic center, amphitheater, gazebos, picnic areas, an outdoor fitness court, children's playground, botanical garden, walking trails with historical markers, and memorial trees. A special "2025 City of Clarksdale Martin Luther King Park Improvements Fund" will be created in the State Treasury to receive and manage these funds, with any unused money ultimately applied to debt service on the bonds. The bonds will be issued tax-exempt and can be validated through the Chancery Court. The bill specifies detailed provisions for bond issuance, sale, and management, and will take effect on July 1, 2025, with no bonds to be issued after July 1, 2029.

Budget and Finance

https://billstatus.ls.state.ms.us/2025/pdf/history/HB/HB0480.xml