Bill > HB1912

This bill authorizes the State of Mississippi to issue up to $300,000 in general obligation bonds to help the Delta Advantage Center purchase a C-Model Truck mobile market and related equipment, along with supporting food staging and preparation activities. The State Bond Commission will manage the bond issuance process, with bonds bearing interest rates not exceeding legal limits and maturing within 25 years. A special "2025 Delta Advantage Center Equipment Fund" will be created in the State Treasury to receive the bond proceeds, and these funds can only be used for the specified equipment and purposes. The bonds are 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 must cover any shortfall from other available funds. The bonds will be legally exempt from state taxation, can be validated through the Chancery Court, and are considered legal investments for various financial institutions. The bill specifies that no bonds can be issued after July 1, 2029, and the act will take effect on July 1, 2025.

Budget and Finance

https://billstatus.ls.state.ms.us/2025/pdf/history/HB/HB1912.xml