MS HB1451

Authorizes the 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 fund designated the "2015 Vicksburg Interpretive Center Construction Fund" within the State Treasury to receive bond proceeds and disburse funds for the project.

Bonds may not be issued after July 1, 2019, and shall mature within 25 years from the date of issue at interest rates not exceeding statutory limits.

Bonds are general obligations of Mississippi backed by the full faith and credit of the State; principal and interest are exempt from state taxation.

Upon project completion or abandonment, any remaining funds in the special fund shall be applied to pay debt service on the bonds issued under this section.