MS SB2819

Authorizes the issuance of state general obligation bonds not exceeding $40,000,000 to assist the City of Gulfport in constructing an aquarium facility, acquiring land, and developing related infrastructure.

Creates a special fund called the "2015 City of Gulfport Aquarium Construction Fund" within the State Treasury to receive bond proceeds and disburse funds for project costs.

Bonds may be issued at any time until July 1, 2019, with maturities not exceeding 25 years, and are backed by the full faith and credit of the State of Mississippi.

Investment earnings on the special fund and any remaining balances after project completion shall be applied to pay debt service on the issued bonds.

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