MS HB1671

Authorizes issuance of up to $7,000,000 in state general obligation bonds to assist the City of Natchez with preplanning and construction of a Mississippi River landing dock facility and related structures on city-owned riverfront property.

Creates a special "2017 Natchez Riverfront Improvements Fund" within the State Treasury to receive bond proceeds and disburse funds for the dock project under discretion of the Department of Finance and Administration.

Bonds may be issued at any time or in multiple installments by the State Bond Commission until July 1, 2021, with maturity dates not exceeding 25 years from issuance.

Remaining fund balances after project completion shall be applied to pay debt service on the bonds, and any investment earnings on the fund shall also be used for debt service payments.

Bonds are general obligations of Mississippi backed by full faith and credit of the state, are exempt from state taxation, and the State Treasurer must certify necessary warrants to pay principal and interest when due.