MS HB51

Authorizes issuance of state general obligation bonds up to $800,000 to fund design, construction, and development of water, sewer, road, and other infrastructure projects at Panther Ridge Business Park in Copiah County.

Creates a special fund called the "2013 Panther Ridge Business Park Improvements Fund" within the State Treasury to receive bond proceeds and disburse funds under direction of the Department of Finance and Administration.

Bond proceeds may only be issued until July 1, 2017, with bonds maturing no later than 25 years from date of issue and subject to interest rate limits in Mississippi Code Section 75-17-101.

State Bond Commission acts as issuing agent and may sell bonds through sealed bids at public sale or negotiate sale; all costs incident to issuance and sale may be paid from bond proceeds.

Bonds are general obligations of Mississippi with full faith and credit of the state pledged for payment; any remaining fund balance after project completion shall be applied to debt service on the bonds.