MS SB2909

Authorizes issuance of state general obligation bonds not to exceed $1,500,000 to assist the Pat Harrison Waterway District with capital improvements to district properties, including cabin renovations, electrical repairs, water and wastewater upgrades, and road overlays.

Creates the "2015 Pat Harrison Waterway District Capital Improvements Fund" within the State Treasury to receive and disburse bond proceeds for eligible projects.

No bonds shall be issued under this section after July 1, 2019, and bonds mature no later than 25 years from date of issue.

Amends existing law to revise the Pat Harrison Waterway District Lake Improvements Fund to permit funds for: (i) construction of a lake in George County including facilities and infrastructure; and (ii) administrative and management costs of the district, capped at 3% of bond proceeds.

Increases total authorized general obligation bonds under amended Chapter 464, Laws of 1999 from $12,925,000 to $15,925,000 total ($12,925,000 for Department of Wildlife, Fisheries and Parks projects and $3,000,000 for Pat Harrison Waterway District).