MS HB1646

Authorizes the State Bond Commission to issue up to $2,000,000 in general obligation bonds to assist Holmes County with road, street, and county building improvements.

Creates a special "2017 Holmes County Roads and Buildings Improvements Fund" within the State Treasury to receive bond proceeds and disburse funds for eligible projects including road repairs, resurfacing, reconstruction, and building renovations.

Bonds may be issued at any time up to July 1, 2021, with a maximum maturity of 25 years and interest rates not to exceed limits set in Mississippi Code Section 75-17-101.

Pledges the full faith and credit of the State of Mississippi to pay principal and interest on the bonds, with any funding shortfall covered by the State Treasurer from unappropriated funds.

Bonds and their income are exempt from Mississippi state taxation and may serve as legal investments for trustees, fiduciaries, and financial institutions in the state.