MS HB1684

Authorizes the issuance of state general obligation bonds not to exceed $30,000,000 to fund Phase II of construction, furnishing, and equipping of a new Department of Public Safety headquarters building in Rankin County, Mississippi.

Establishes a special fund called the "2013 Department of Public Safety Headquarters Building Construction Fund" within the State Treasury to receive and disburse bond proceeds for the project.

Limits bond issuance to no more than $19,000,000 per fiscal year and prohibits any bonds from being issued after July 1, 2017.

Bonds shall mature within 25 years from date of issue, with interest payable semiannually or annually at rates not to exceed limits set by Mississippi law.

Pledges the full faith and credit of the State of Mississippi for bond repayment, and declares the bonds exempt from state taxation with income earned on bond proceeds used to pay debt service.