MS HB1578

Authorizes issuance of up to $12,000,000 in state general obligation bonds to fund repairs, renovations, and capital improvements at Mississippi Department of Wildlife, Fisheries and Parks facilities.

Creates the "2017 State Parks Repair, Renovation and Capital Improvements Fund" to receive bond proceeds and disburse funds for facility maintenance, dams, roofing, wastewater and water well improvements, and other capital projects.

Bonds may mature up to 25 years from issuance with interest rates not exceeding limits set in Mississippi Code Section 75-17-101, with maturity date for issuance set at July 1, 2021.

State Bond Commission serves as issuing agent and may sell bonds through sealed bids at public sale or negotiate sales; all remaining fund amounts after project completion shall be applied to bond debt service.

Bonds are full general obligations of the state backed by the full faith and credit of Mississippi, are tax-exempt, and take effect July 1, 2017.