MS HB1709

Authorizes issuance of state general obligation bonds not to exceed $350,000 to assist the City of Mound Bayou, Mississippi with improvements to its existing city pool.

Creates a special fund called the "2017 Mound Bayou City Pool Improvements Fund" within the State Treasury to receive and disburse bond proceeds under direction of the Department of Finance and Administration.

Bonds may mature up to 25 years from date of issue and bear interest at rates not exceeding limits set in Mississippi Code Section 75-17-101, with interest payable semiannually or annually.

No bonds may be issued under this section after July 1, 2021, and any remaining fund balance after project completion will be applied to pay debt service on the bonds.

Bonds are general obligations of Mississippi backed by the full faith and credit of the state, and are exempt from Mississippi taxation.