Bill > HB602

This bill authorizes the State of Mississippi to issue up to $500,000 in state general obligation bonds to fund the repair, renovation, and restoration of the Rosenwald School in Marshall County, with the bonds needing to be issued by July 1, 2030. The State Bond Commission, or "Commission," will oversee the issuance and sale of these bonds, with the proceeds going into a dedicated fund called the "2026 Rosenwald School - Marshall County Repair and Renovation Fund." This fund will be managed separately from the state's general funds, and any remaining money after the project is completed will be used to pay off the bonds. The bill outlines the procedures for bond issuance, including their form, maturity, and how they will be signed and sold, and clarifies that these bonds are a full faith and credit obligation of the state, meaning the state guarantees their repayment. The bill also specifies that the bonds and their income will be tax-exempt within Mississippi and will be considered safe investments for various financial institutions and fiduciaries.

Budget and Finance

https://billstatus.ls.state.ms.us/2026/pdf/history/HB/HB0602.xml