MS HB1592

Authorizes the State Bond Commission to issue up to $2,000,000 in general obligation bonds to fund construction, repair, renovation, and improvement of buildings, facilities, exhibits, and infrastructure at the Jackson Zoo in Jackson, Mississippi.

Creates a special "2013 Jackson Zoo Improvements Fund" within the State Treasury to receive bond proceeds and disburse funds for approved zoo projects, with unexpended amounts and investment earnings retained in the fund.

Establishes that bonds may mature up to 25 years from issuance, with interest rates subject to Mississippi Code Section 75-17-101, and all bonds are backed by the full faith and credit of the State of Mississippi.

Prohibits bond issuance after July 1, 2017, and specifies that after projects are completed or abandoned, remaining fund balances shall be applied to pay debt service on the bonds.

Exempts bonds and income from state taxation and authorizes the State Bond Commission to sell bonds through sealed bids at public sale or negotiated sale, with all sale costs payable from bond proceeds.