MS SB2932

Authorizes issuance of state general obligation bonds not to exceed $150,000 to fund repair, renovation, restoration, and expansion of the Houlka Community Center in Chickasaw County, Mississippi.

Creates a special fund called the "2016 Houlka Community Center Improvements Fund" within the State Treasury to receive bond proceeds and disburse funds for project costs.

Prohibits bond issuance after July 1, 2020, and limits bond maturity to 25 years from date of issue.

Pledges full faith and credit of the State of Mississippi to pay principal and interest on bonds; any shortfall in appropriated funds must be paid from the State Treasury.

Bonds and income are exempt from all state taxation and qualify as legal investments for trustees, fiduciaries, banks, and insurance companies in Mississippi.