MS HB1684

Authorizes issuance of up to $10 million in state general obligation bonds to fund construction, reconstruction, relocation, repair, renovation, and improvements to Mississippi National Guard Armories, including related real estate acquisition

Limits bond issuance to no more than $2 million per fiscal year, with no bonds to be issued after July 1, 2020

Creates the "2016 Mississippi National Guard Armories Improvements Fund" within the State Treasury to hold bond proceeds, with funds disbursed at the discretion of the Department of Finance and Administration

Bonds may mature up to 25 years from date of issue and are backed by the full faith and credit of the State of Mississippi

Bonds and income from them are exempt from all state taxation and qualify as legal investments for trustees, fiduciaries, savings banks, trust companies, and insurance companies