MS HB1594

Authorizes issuance of state general obligation bonds up to $500,000 to assist Scott Ford House, Inc., in developing two historic properties on East Cohea Street in Jackson, Mississippi.

Creates a special fund called the "2016 Scott Ford House, Inc., Historic Properties Fund" to receive bond proceeds and pay costs for developing the property at 136 East Cohea Street (former home of slave midwife Mary Scott Green) and 138 East Cohea Street (house museum for midwife Virginia Scott Ford).

Bonds may not be issued after July 1, 2020, and may mature up to 25 years from issue date with interest rates not exceeding limits set by Mississippi Code Section 75-17-101.

Pledges the full faith and credit of the State of Mississippi for bond repayment, with the State Treasurer required to pay any deficiency from general treasury funds if appropriated funds are insufficient.

Bonds and their income are exempt from all Mississippi state taxation and are legal investments for trustees, fiduciaries, and financial institutions organized under state law.