Bonds; authorize issuance to assist with purchase and renovation of a building by The Petal Area Chamber of Commerce.

HB 958 authorizes Mississippi to issue state general obligation bonds to fund the Petal Area Chamber of Commerce’s purchase, renovation, and equipment costs for a building at 226 E. Central Avenue in Petal. The funds would flow from the state to the City of Petal, which would then provide them directly to the Chamber for the project. The bonds are backed by the full faith and credit of Mississippi, meaning the state treasury would repay them if needed. The State Bond Commission would manage the bond sale and disbursement process.