MS HB1626

Authorizes issuance of state general obligation bonds not to exceed $13,900,000 for repairs, renovations, and capital improvements at Mississippi state parks.

Creates the "2015 State Parks Repair, Renovation and Capital Improvements Fund" within the State Treasury to receive bond proceeds and disburse them under the direction of the Mississippi Department of Wildlife, Fisheries and Parks.

Bonds may be issued at any time until July 1, 2019, with maturities not exceeding 25 years from date of issue, and interest rates subject to Mississippi Code Section 75-17-101 limits.

Full faith and credit of the State of Mississippi is pledged to guarantee bond payments; if legislative appropriations are insufficient, the State Treasurer shall pay any deficiency from unappropriated state funds.

Bonds are exempt from Mississippi state taxation and are legal investments for fiduciaries, banks, trust companies, and insurance companies in the state.