MS HB1656

Authorizes issuance of state general obligation bonds not to exceed $40,500,000 to fund construction, furnishing, and equipping of a Department of Public Safety headquarters building adjacent to the Mississippi Crime Laboratory and State Medical Examiner in Rankin County.

Limits bond issuance to no more than $13,500,000 per fiscal year, with all bonds to be issued by July 1, 2021.

Creates a special fund designated "2017-2018 Department of Public Safety Headquarters Building Construction Fund" within the State Treasury to receive bond proceeds and disburse funds for project costs.

Grants the State Bond Commission authority to issue, sell, and manage the bonds, with interest rates not exceeding limits in Mississippi Code Section 75-17-101 and maturity not exceeding 25 years.

Pledges the full faith and credit of the State of Mississippi to repay the bonds; any remaining funds after project completion shall be applied to debt service on the bonds.