MS HB1647

Authorizes the State Bond Commission to issue up to $2,000,000 in general obligation bonds to fund repair, renovation, and restoration of the Yazoo County Courthouse.

Creates a special fund called the "2017 Yazoo County Courthouse Improvements Fund" within the State Treasury to receive bond proceeds and disburse them for courthouse project costs.

Bonds shall not exceed a maturity of 25 years from date of issue, with interest rates subject to Mississippi Code Section 75-17-101, and all bonds must be issued by July 1, 2021.

Full faith and credit of the State of Mississippi is pledged to guarantee payment of principal and interest; if legislative appropriations are insufficient, the State Treasurer shall pay any deficiency from available state funds.

Bonds are exempt from all state taxation and may be validated in Hinds County Chancery Court; any remaining bond proceeds after project completion shall be applied to debt service on the bonds.