MS HB1457

Authorizes issuance of $30,000,000 in general obligation bonds to fund loans to Hinds County for development projects including a hotel with at least 200 guest rooms, the Byram-Clinton Parkway project, and other county-approved projects.

Creates the "2015 Hinds County Development Projects Loan Fund" managed by the Mississippi Development Authority to disburse loans to the county at interest rates based on the true interest cost of the most recent 20-year state general obligation bonds.

Requires Hinds County to repay loans within 20 years using homestead exemption tax loss reimbursements and project revenues, with payments deposited into a bond sinking fund.

Establishes the State Bond Commission as the issuing agent with authority to prescribe bond form, determine sale method, and handle all aspects of bond issuance and sale.

Pledges the full faith and credit of Mississippi for bond repayment; bonds are general obligations exempt from state taxation and qualify as legal investments for trustees, banks, and insurance companies.