MS HB1738

Authorizes the issuance of state general obligation bonds up to $1,500,000 to assist the City of Vicksburg with recruiting, promotion, construction, and development of tourism projects.

Creates a special fund called the "2016 City of Vicksburg Tourism Assistance Fund" within the State Treasury to receive and disburse bond proceeds for eligible tourism project costs.

Bonds may mature up to 25 years from date of issue and cannot be issued after July 1, 2020.

Full faith and credit of the State of Mississippi is pledged to repay bonds; if legislative appropriations are insufficient, the State Treasurer must pay any deficiency from unappropriated state funds.

Bond proceeds are exempt from state taxation, and any remaining fund balance after project completion shall be applied to debt service on the bonds.