MS HB1600

Authorizes the State Bond Commission to issue up to $325,000 in general obligation bonds to fund improvements at the Mississippi Craft Center in Ridgeland, Mississippi.

Creates the "2014 Mississippi Craft Center Improvements Fund" within the State Treasury to receive bond proceeds and disburse funds for parking and road improvements, multi-use trails, and repair and renovation costs at the facility.

Bonds shall mature within 25 years from date of issue, with interest rates not exceeding limits set in Section 75-17-101 of Mississippi Code, and no bonds may be issued after July 1, 2018.

Bonds are general obligations of Mississippi with full faith and credit pledged; any funds insufficient to pay principal and interest shall be covered by the State Treasurer from unappropriated state funds.

Bonds and their income are exempt from state taxation and may be validated in the Chancery Court of the First Judicial District of Hinds County.