MS HB1701

Authorizes issuance of state general obligation bonds not to exceed $6,000,000 to fund repair, renovation, expansion, and improvements to the Mississippi Coliseum.

Creates a special fund called the "2013 Mississippi State Fairground Improvements Fund" within the State Treasury to receive bond proceeds and disburse funds for coliseum projects.

Bonds may not be issued after July 1, 2017, and must mature within 25 years from date of issue, with 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 repayment; if appropriated funds are insufficient, the State Treasurer must cover deficiencies from other state funds.

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