MS SB3199

Authorizes George County Board of Supervisors to issue up to $10 million in general obligation bonds for acquiring, constructing, equipping, and maintaining a county sports and recreation complex.

Requires approval by at least 60% of voters at a county election before bonds can be issued and tax imposed; election must be published for three consecutive weeks.

Imposes a 0.50% sales tax on gross proceeds of sales in George County to retire bonds, collected by State Tax Commission and paid to county monthly.

Sales tax exempts farm tractors, manufacturing machinery, vehicles, food for human consumption, drugs and medicines, and other specified items consistent with Mississippi Sales Tax Law.

Tax revenues deposited in special county fund to pay principal and interest on bonds; if insufficient, Board of Supervisors must levy additional ad valorem tax; act repeals July 1, 2013.