MS HB562

Authorizes issuance of state general obligation bonds not to exceed $100,000 to assist the Town of Wesson with costs of making Americans with Disabilities Act improvements to a municipally owned building and related facilities.

Creates a special fund designated as the "2013 Town of Wesson Americans With Disabilities Act Improvements Fund" within the State Treasury to receive bond proceeds and disburse funds under direction of the Department of Finance and Administration.

Grants the State Bond Commission authority to issue, sell, and manage the bonds, which shall mature within 25 years and bear interest at rates not exceeding limits in Mississippi Code Section 75-17-101.

Pledges the full faith and credit of the State of Mississippi to guarantee payment of principal and interest on the bonds, with any shortfalls paid from the State Treasury.

Establishes that bonds cannot be issued after July 1, 2017, and that bond proceeds are exempt from state taxation and may be used for project costs and issuance expenses.