MS HB1454

Authorizes issuance of state general obligation bonds totaling up to $1,500,000 to assist Lowndes County in constructing, furnishing, and equipping an equine center and related facilities.

Creates a special "2015 Lowndes County Equine Center Construction Fund" within the State Treasury to receive and disburse bond proceeds for the equine center project.

Bonds may not be issued after July 1, 2019, and may mature up to 25 years from the date of issue with interest rates subject to state limits.

Remaining funds after project completion or abandonment must be applied to pay debt service on the bonds issued under this section.

Bonds are general obligations of the State of Mississippi with full faith and credit pledged; bonds and income are exempt from state taxation.