MS HB1453

Authorizes the issuance of state general obligation bonds totaling up to $25,000,000 to assist the City of Columbus, Mississippi, with construction and development of walking tracks, trails, bicycle paths, hunting ranges, firing ranges, and recreational facilities near Columbus Air Force Base.

Limits bond issuance to no more than $5,000,000 in any single fiscal year and prohibits any bonds from being issued after July 1, 2019.

Creates a special fund called the "2015 City of Columbus - Columbus Air Force Base Improvements Fund" to receive bond proceeds and disburse funds for authorized projects under the discretion of the Department of Finance and Administration.

Establishes that bonds are general obligations of Mississippi with full faith and credit of the state pledged for repayment; bonds mature within 25 years, are exempt from state taxation, and serve as legal investments for fiduciaries and financial institutions.

Designates the State Bond Commission as the issuing agent with authority to prescribe bond terms, determine sale methods, advertise for bids, and handle all administrative aspects of bond issuance and sale.