MS HB1633

Authorizes issuance of up to $7,000,000 in state general obligation bonds to assist the City of Natchez with preplanning and construction of a Mississippi River landing dock facility and related structures on city-owned riverfront property.

Creates the "2015 Natchez Riverfront Improvements Fund" as a special fund within the State Treasury to receive bond proceeds and disburse funds for the project costs.

Bonds may be issued at any time or in multiple installments by the State Bond Commission but no bonds may be issued after July 1, 2019, with a maximum maturity of 25 years from issuance.

Full faith and credit of the State of Mississippi is pledged to pay principal and interest on the bonds; if appropriated funds are insufficient, any deficiency shall be paid from the State Treasury.

Bonds are exempt from state taxation and qualify as legal investments for trustees, fiduciaries, and financial institutions in Mississippi.