MS HB1007

Authorizes issuance of up to $10,000,000 in state general obligation bonds to fund grants for construction, renovation, and expansion of livestock facilities in counties and municipalities.

Establishes the "2011 County and Municipality Livestock Facility Improvements Fund" as a separate fund in the State Treasury to receive bond proceeds and distribute grants through the Department of Agriculture and Commerce.

Requires counties and municipalities receiving grants to provide matching funds equal to the grant amount, with up to $25,000 of matching funds allowed as in-kind contributions, and caps individual project grants at $500,000.

Authorizes the State Bond Commission to issue, sell, and manage the bonds with interest rates not exceeding statutory limits and maturity not to exceed 25 years, with bonds backed by the full faith and credit of Mississippi.

Exempts bond-funded livestock facility construction from supervision requirements of the Department of Finance and Administration's Bureau of Building, Grounds and Real Property Management.