MS HB1664

Authorizes issuance of up to $8,000,000 in state general obligation bonds for construction, repair, renovation, and replacement of buildings at the Alcoholic Beverage Control Warehouse in Madison County, Mississippi, and for purchase or renovation of equipment at the facility.

Creates the "2017 Alcoholic Beverages Control Warehouse Improvements Fund" as a separate special fund within the State Treasury to receive and disburse bond proceeds for authorized warehouse projects.

Bonds may not be issued after July 1, 2021, and shall mature no later than 25 years from the date of issue, with 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 guarantee payment of principal and interest on the bonds; if appropriated funds are insufficient, the State Treasurer shall pay any deficiency from other available state funds.

Bonds and income therefrom are exempt from Mississippi state taxation and qualify as legal investments for trustees, fiduciaries, savings banks, trust companies, and insurance companies.