MS HB1615

Authorizes the State Bond Commission to issue up to $3,000,000 in general obligation bonds to fund construction, furnishing, and equipping of a county civil defense building and related facilities in Claiborne County, Mississippi.

Creates the "2013 Claiborne County Civil Defense Building Construction Fund" as a separate fund within the State Treasury to receive and disburse bond proceeds for the project.

Bonds may be issued at any time before July 1, 2017, with maturity not to exceed 25 years from date of issue and interest rates not exceeding limits under Mississippi Code Section 75-17-101.

Pledges the full faith and credit of the State of Mississippi to pay principal and interest on the bonds; any insufficient state appropriations shall be covered by the State Treasurer from unappropriated funds.

Bond proceeds are exempt from all Mississippi state taxation, and any remaining funds after project completion shall be applied to pay debt service on the issued bonds.