Bill > HB692

This bill authorizes the State of Mississippi to issue up to $4 million in general obligation bonds to help the City of Holly Springs fund the construction, furnishing, and equipping of a wellness and aquatics center and related facilities. The State Bond Commission will manage the bond issuance process, which includes determining the bonds' details such as interest rates (not exceeding legal limits), maturity dates (up to 25 years), and sale methods. A special fund called the "2025 City of Holly Springs Wellness and Aquatics Center Construction Fund" will be created in the State Treasury to receive and manage the bond proceeds, with the Department of Finance and Administration having discretion over fund disbursement. The bonds will be considered general obligations of the state, meaning the state's full faith and credit is pledged to repay them, and if legislative appropriations are insufficient, the State Treasurer will cover any shortfalls from other state funds. The bonds will be legally investable by financial institutions, exempt from state taxation, and can be validated through a legal process in Hinds County Chancery Court. The bond issuance authorization is valid until July 1, 2029, after which no further bonds can be issued under this act.

Budget and Finance

https://billstatus.ls.state.ms.us/2025/pdf/history/HB/HB0692.xml