Bill > SB2121

This bill authorizes the State of Mississippi to issue up to $350,000 in general obligation bonds to provide financial assistance to the Community Health and Wellness Center, Inc. for repairing and renovating its health care facility located in Isola. The bonds will be issued by the State Bond Commission, which will determine the specific terms such as interest rates (not exceeding legal limits), maturity dates (up to 25 years), and sale methods. A special fund called the "2025 Isola Community Health and Wellness Center Fund" will be created in the State Treasury to receive and manage the bond proceeds, with any unused funds eventually being applied to pay debt service on the bonds. The bonds are considered general obligations of the state, meaning the state's full faith and credit is pledged to repay them, and if initial appropriations are insufficient, the State Treasurer can use other available funds to cover any shortfall. The bonds will be legal investments for financial institutions and will be exempt from state taxation. The authorization for issuing these bonds expires on July 1, 2029, and the bill takes effect immediately upon passage.

Budget and Finance

https://billstatus.ls.state.ms.us/2025/pdf/history/SB/SB2121.xml