MS SB2008

Authorizes issuance of state general obligation bonds not to exceed $30,000,000 to fund Phase II construction, furnishing, and equipping of a Department of Public Safety headquarters building in Rankin County, Mississippi adjacent to the Mississippi Crime Laboratory and State Medical Examiner.

Creates a special fund designated the "2015 Department of Public Safety Headquarters Building Construction Fund" within the State Treasury, maintained separately from the General Fund, with unexpended amounts and investment earnings retained in the fund.

Grants the State Bond Commission authority to issue bonds, determine sale methods, prescribe bond terms (interest rates not to exceed statutory limits, maturity up to 25 years), and handle all administrative matters related to bond issuance and sale.

Pledges the full faith and credit of the State of Mississippi to guarantee payment of bond principal and interest, with any deficiency paid from the State Treasury; makes bonds tax-exempt and legal investments for fiduciaries and financial institutions.

Establishes that bonds cannot be issued after July 1, 2019, and requires remaining funds to be applied toward debt service once the project is completed, abandoned, or cannot be completed in a timely fashion.