Bill > HB958

This bill authorizes the State of Mississippi to issue up to $550,000 in general obligation bonds, which are essentially loans backed by the state's full faith and credit, to help fund the purchase, renovation, and equipping of a building located at 226 E. Central Avenue in Petal, Mississippi. The funds from these bonds will be transferred to a special fund, the "2026 City of Petal - The Petal Area Chamber of Commerce Building Fund," and then disbursed by the Department of Finance and Administration to the City of Petal, which will in turn provide them to The Petal Area Chamber of Commerce. This Chamber of Commerce is a local organization that supports businesses in the Petal area. The bonds must be issued by July 1, 2030, and the bill outlines the procedures for their issuance, sale, and management by the State Bond Commission, which is the entity responsible for overseeing state bond sales. The bill also specifies that any remaining funds in the special account after the project is completed will be used to pay off the debt on these bonds, and that the bonds and their income will be exempt from state taxes.

Budget and Finance

https://billstatus.ls.state.ms.us/2026/pdf/history/HB/HB0958.xml