MS HB1739

Authorizes issuance of state general obligation bonds not to exceed $500,000 to assist Quitman County in constructing, furnishing, and equipping a passenger train depot in Marks, Mississippi.

Creates a special fund designated "2017 Marks Passenger Train Depot Fund" within the State Treasury to receive bond proceeds and disburse funds for project costs under the Department of Finance and Administration's discretion.

Bonds may mature up to 25 years from date of issue with interest rates not exceeding limits in Section 75-17-101, Mississippi Code of 1972, and no bonds shall be issued after July 1, 2021.

Establishes bonds as general obligations of Mississippi with full faith and credit pledge; any insufficient appropriated funds shall be paid by the State Treasurer from unappropriated state funds.

Bonds and their income are exempt from all state taxation, and any remaining fund balance after project completion shall be applied to pay debt service on the bonds.