MS SB2931

Authorizes the State Bond Commission to issue up to $500,000 in general obligation bonds to assist Quitman County in constructing, furnishing, and equipping a passenger train depot in Marks, Mississippi.

Creates the "2017 Marks Passenger Train Depot Fund" as a separate special fund within the State Treasury to receive bond proceeds and disburse funds for the depot project.

Bonds may be issued anytime before July 1, 2021, with a maturity period not exceeding 25 years and interest rates not to exceed limits set in Mississippi Code Section 75-17-101.

Pledges the full faith and credit of the State of Mississippi to guarantee bond repayment, with any deficiency paid from the State Treasury if appropriated funds are insufficient.

Bonds issued are exempt from Mississippi state taxation and may be validated through the Chancery Court of the First Judicial District of Hinds County.