MS SB2429

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

Creates the "2017 Alcoholic Beverage Control Warehouse Improvement Fund" within the State Treasury to receive bond proceeds and disburse funds for authorized projects under direction of the Department of Finance and Administration.

Grants the State Bond Commission authority to determine bond terms including interest rates (not to exceed limits in MS Code Section 75-17-101), maturity dates (up to 25 years), redemption provisions, and to advertise for and accept bids or negotiate bond sales.

Requires that any remaining fund balance after project completion be applied toward debt service on the bonds, and specifies investment earnings on the fund shall be used for bond debt service.

Establishes that bonds are general obligations of Mississippi backed by the state's full faith and credit, are exempt from state taxation, and no bonds may be issued after July 1, 2021.