MS HB1458

Authorizes issuance of state general obligation bonds not to exceed $1,000,000 to fund construction, repair, renovation, and improvement of buildings, facilities, exhibits, and infrastructure at the Jackson Zoo.

Creates the "2015 Jackson Zoo Improvements Fund" as a separate special fund within the State Treasury to receive bond proceeds and disburse funds for authorized zoo improvements.

Bonds may not be issued after July 1, 2019, and may mature up to 25 years from date of issue with interest rates subject to Mississippi Code Section 75-17-101.

Pledges the full faith and credit of the State of Mississippi to back the bonds, requiring the State Treasurer to cover any deficiency from unappropriated state funds if legislative appropriations prove insufficient.

Bonds and income from bonds are exempt from all taxation in Mississippi and qualify as legal investments for trustees, fiduciaries, banks, and insurance companies.