MS HB1681

Authorizes the State Bond Commission to issue up to $1,100,000 in general obligation bonds for repair, renovation, upgrades, and improvements to the Mississippi Gulf Coast YMCA building and related facilities in Ocean Springs.

Creates a special "2013 Mississippi Gulf Coast YMCA Improvements Fund" within the State Treasury to receive bond proceeds and disburse funds for the YMCA project under direction of the Department of Finance and Administration.

Bonds may be issued at any time until July 1, 2017, with maturity not to exceed 25 years from issuance and interest rates not exceeding limits set in Mississippi Code Section 75-17-101.

Pledges the full faith and credit of the State of Mississippi to guarantee bond payments; any shortfall from appropriated funds must be paid from the State Treasury.

Bonds and income are exempt from Mississippi state taxation and qualify as legal investments for trustees, fiduciaries, banks, and insurance companies.