MS HB1565

Authorizes issuance of state general obligation bonds up to $800,000 to fund design, construction, and development of water, sewer, road, and other infrastructure projects at Panther Ridge Business Park in Copiah County.

Establishes the "2012 Panther Ridge Business Park Improvements Fund" as a separate special fund in the State Treasury to receive bond proceeds and disburse funds under Department of Finance and Administration direction.

Bonds may not be issued after July 1, 2016, and shall mature within 25 years from date of issue with interest rates subject to Mississippi Code limits.

Specifies that remaining fund balances after project completion shall be applied to pay debt service on the bonds, and investment earnings on fund amounts shall also be used for debt service.

Bonds are general obligations of Mississippi with full faith and credit pledged; bond proceeds and income are exempt from state taxation.