Bill > HB418

This bill authorizes the State of Mississippi to issue up to $500,000 in general obligation bonds to help the City of Greenville repair and renovate specific city parks and its municipal golf course. The bonds will be issued by the State Bond Commission and will have a maximum maturity of 25 years, with interest rates not exceeding legal limits. The funds will be specifically allocated to four locations: the Greenville Municipal Golf Course ($125,000), Frisby Park ($125,000), Rounds Park ($125,000), and Maude Bryan Park ($125,000). A special "2025 City of Greenville Parks and Municipal Golf Course Repair and Renovation Fund" will be created in the State Treasury to manage these funds, with any unused money potentially applied to debt service. The bonds are considered general obligations of the state, meaning the full faith and credit of Mississippi is pledged to repay them, and if appropriated funds are insufficient, the State Treasurer can use other unappropriated funds to cover the debt. The bonds will be tax-exempt and can be legally used as investments. The bill specifies that no bonds can be issued after July 1, 2029, and provides detailed guidelines for their issuance, sale, and management.

Budget and Finance

https://billstatus.ls.state.ms.us/2025/pdf/history/HB/HB0418.xml