MS HB1672

Authorizes the State Bond Commission to issue up to $1,000,000 in general obligation bonds to provide funds to Jackson State University for purchasing an exhibit about the historical struggles of disadvantaged individuals and promoting tourism.

Creates a special fund designated the "2010 Jackson State University Historical Exhibit Fund" within the State Treasury to receive bond proceeds and any investment earnings, which shall not lapse into the General Fund.

Allows bonds to mature in up to 25 years from date of issue with interest rates not to exceed limits set in Mississippi Code Section 75-17-101, with all bonds backed by the full faith and credit of the State of Mississippi.

No bonds may be issued under this authority after July 1, 2014, and any remaining fund amounts after project completion shall be applied to pay debt service on the bonds.

Exempts issued bonds and their income from all state taxation and permits the State Treasurer to issue warrants to pay principal and interest on the bonds when due.