MS HB175

Authorizes the State Bond Commission to issue up to $250,000 in general obligation bonds to fund repair, renovation, and improvements to the Mississippi Craft Center in Ridgeland, Mississippi.

Creates a special fund called the "2013 Mississippi Craft Center Improvements Fund" within the State Treasury to receive bond proceeds and disburse funds for project costs.

Bonds may be issued at any time before July 1, 2017, with a maximum maturity of 25 years and interest rates subject to Mississippi law limits.

Pledges the full faith and credit of the State of Mississippi to guarantee bond repayment; any remaining fund balance after project completion shall be applied to debt service on the bonds.

Bonds are exempt from Mississippi state taxation and may be validated through Chancery Court proceedings; bond proceeds may only be used for the specified craft center improvements and related issuance costs.