Bill > HB364

This bill authorizes the State of Mississippi to issue up to $15 million in general obligation bonds, which are a pledge of the state's full faith and credit, to fund the construction, furnishing, and equipping of a new elementary school and related facilities, including a playground, for the Okolona Municipal Separate School District. The State Bond Commission, referred to as the "Commission," will manage the issuance and sale of these bonds, which must be repaid within 25 years of their issue date and cannot be issued after July 1, 2030. Proceeds from the bond sales will be placed in a dedicated fund, the "2026 Okolona Municipal Separate School District Elementary School Fund," and disbursed by the Department of Finance and Administration for the school project. Any remaining funds after the project's completion will be used to pay off the bonds. The bill also outlines procedures for bond validation, legal investment status, tax exemption, and the process for drawing funds from the State Treasury to cover bond payments.

Budget and Finance

https://billstatus.ls.state.ms.us/2026/pdf/history/HB/HB0364.xml