MS HB1567

Authorizes the State Bond Commission to issue up to $500,000 in general obligation bonds to provide matching funds for the Hugh White State Park/Lake Access Road Project (State Aid Project Numbers STPD-1780(1)B and STPD-1780(2)B) in Grenada County, Mississippi.

Creates a special fund designated "2015 Hugh White State Park/Lake Access Road Fund" within the State Treasury to be maintained separately from the General Fund, with unexpended amounts and investment earnings remaining in the fund rather than lapsing.

Bonds shall mature within 25 years from date of issue and bear interest at rates not exceeding limits set in Section 75-17-101, Mississippi Code of 1972, with interest payable semiannually or annually.

All bonds are general obligations of the State of Mississippi with full faith and credit pledged; if appropriated funds are insufficient, the State Treasurer shall pay any deficiency from unappropriated state funds.

No bonds may be issued after July 1, 2019, and bond proceeds and income are exempt from all state taxation.