MS SB2106

Authorizes issuance of up to $30,000,000 in state general obligation bonds for Phase II construction, furnishing, and equipping of a Department of Public Safety headquarters building in Rankin County, Mississippi.

Creates a special fund called the "2016 Department of Public Safety Headquarters Building Construction Fund" within the State Treasury to receive bond proceeds and disburse funds for the project.

Grants the State Bond Commission authority to determine bond terms including interest rates (not exceeding statutory limits), maturity dates (up to 25 years), and sale method, with all bonds backed by the full faith and credit of the State.

Requires any remaining fund balance after project completion to be applied toward debt service on the bonds, and stipulates that bond proceeds may not be issued after July 1, 2020.

Exempts bonds and income from state taxation and authorizes the State Treasurer and Department of Finance and Administration to issue warrants and manage payments for principal, interest, and accreted value of bonds as they come due.