MS HB1610

Authorizes issuance of state general obligation bonds not to exceed $5,000,000 to acquire the former Wright and Ferguson Funeral Home property in Jackson, Mississippi, as authorized by Senate Bill No. 2685 from the 2015 regular session.

Creates a special "2016 Property Acquisition and Renovation Fund" within the State Treasury to be maintained separately from the General Fund, with unexpended amounts and investment earnings remaining in the fund rather than lapsing.

Grants the State Bond Commission authority to determine bond terms including interest rates (not to exceed limits in Section 75-17-101), maturity dates (up to 25 years), and sale methods through sealed bids or negotiation.

Establishes bonds as general obligations of Mississippi with full faith and credit pledged; requires the State Treasurer to pay any deficiency from unappropriated state funds if legislative appropriations are insufficient.

Authorizes bond issuance only until July 1, 2020, and specifies that bond proceeds and income are exempt from all taxation in Mississippi.