MS HB302

Authorizes issuance of state general obligation bonds not to exceed $900,000 to fund construction of an 80- to 150-acre lake and related facilities in, adjacent to, or near the Tuscumbia Wildlife Management Area in Alcorn County, Mississippi.

Creates a special fund designated the "2013 Alcorn County Lake Project Fund" within the State Treasury to receive bond proceeds and disburse them for project costs under direction of the Department of Finance and Administration.

Grants the State Bond Commission authority to issue bonds, determine sale method, prescribe bond terms (maturity up to 25 years, interest rates per Mississippi law), and handle all aspects of bond issuance and sale.

Specifies that bonds are general obligations backed by the full faith and credit of the state, with principal and interest payable from state funds if legislative appropriations are insufficient.

Establishes deadline of July 1, 2017 for bond issuance and provides that remaining fund balances after project completion or abandonment shall be applied to pay debt service on the bonds.