MS HB1645

Authorizes issuance of up to $500,000 in state general obligation bonds for improvements to Jerry Clower Park in Yazoo City, including bicycle trails, walking trails, and facility repairs and renovations.

Creates a special fund designated "2017 Yazoo City Jerry Clower Park Improvements Fund" within the State Treasury to receive bond proceeds and disburse funds for project costs under direction of the Department of Finance and Administration.

Bonds may be issued at any time until July 1, 2021, with maturity dates not exceeding 25 years and interest rates subject to Mississippi Code limits.

Pledges the full faith and credit of the State of Mississippi to guarantee bond repayment, with any deficiency to be paid from the State Treasury; bonds are exempt from state taxation.

After projects are completed, abandoned, or cannot be timely completed, remaining fund balances shall be applied to debt service on the bonds as determined by the State Bond Commission.