MS HB354

Authorizes issuance of state general obligation bonds up to $4,500,000 for renovation, furnishing, and equipping of the Robert G. Clark Building in Jackson, Mississippi.

Authorizes issuance of state general obligation bonds up to $1,750,000 for renovation of the former Marine Barracks building in Jackson into administrative offices for the State Records Center, including parking lot and sitework.

Creates two separate special funds within the State Treasury to receive bond proceeds and disburse funds under direction of the Department of Finance and Administration for authorized projects.

Bonds mature no later than 25 years from date of issue, with interest rates not exceeding limits set in Mississippi Code Section 75-17-101, and may be called for redemption at the State's option.

No bonds may be issued under either authorization after July 1, 2020; bond proceeds exempted from state taxation and backed by full faith and credit of the State of Mississippi.