MS HB1672

Authorizes Mississippi to issue state general obligation bonds totaling up to $500,000 to furnish, equip, repair, and renovate the Freedom House in Canton, Mississippi.

Creates a special "2017 Freedom House Repair and Renovation Fund" within the State Treasury to receive bond proceeds and disburse funds for project costs under direction of the Department of Finance and Administration.

Grants the State Bond Commission authority to determine bond terms including maturity (up to 25 years), interest rates, sale method, and redemption options, with bonds backed by the full faith and credit of the state.

Directs that any remaining funds after project completion or abandonment be applied to pay debt service on the issued bonds, and that investment earnings on the special fund be used for debt service payments.

Exempts bonds and bond income from all Mississippi state taxation and establishes bonds as legal investments for trustees, fiduciaries, and state financial institutions.