MS HB1450

Authorizes issuance of state general obligation bonds not to exceed $500,000 to assist the City of Vicksburg in constructing, furnishing, and equipping the Vicksburg Interpretive Center and related facilities.

Creates a special "2015 Vicksburg Interpretive Center Construction Fund" within the State Treasury to receive bond proceeds and disburse funds at the discretion of the Department of Finance and Administration.

Bonds may have a maturity of up to 25 years from issuance, with no bonds issued after July 1, 2019, and all principal and interest payable semiannually or annually.

Full faith and credit of the State of Mississippi is pledged to guarantee bond payment, with any deficiencies paid from the State Treasury, and bonds are exempt from state taxation.

Remaining funds in the special fund after project completion shall be applied to pay debt service on the bonds.