MS HB1722

Authorizes the State Bond Commission to issue up to $1,000,000 in general obligation bonds for the Mississippi Department of Wildlife, Fisheries and Parks to fund repair and renovation of capital facilities, dams, roofing, wastewater systems, water wells, and facility maintenance.

Creates a special "2016 State Parks Repair, Renovation and Capital Improvements Fund" within the State Treasury to receive bond proceeds and maintain them separately from the General Fund, with unexpended amounts and investment earnings remaining in the fund.

Bonds shall mature no later than 25 years from issuance, with interest rates not to exceed limits set in Mississippi Code Section 75-17-101, and no bonds may be issued after July 1, 2020.

Bonds are backed by the full faith and credit of the State of Mississippi, with any funding deficiencies paid from the State Treasury; proceeds of bonds are exempt from state taxation.

Unused funds remaining after projects are completed, abandoned, or cannot be completed timely shall be applied to pay debt service on the bonds, and the State Treasurer is authorized to issue warrants for bond principal and interest payments when due.