MS SB3030

Authorizes the State Bond Commission to issue up to $300,000 in general obligation bonds to assist the City of Houston, Mississippi in constructing, furnishing, and equipping an extension of the Tanglefoot Trailhead Pavilion, including office and maintenance areas.

Creates a special fund called the "2017 City of Houston Tanglefoot Trailhead Pavilion Extension Fund" within the State Treasury to receive bond proceeds and disburse funds for the project under the Department of Finance and Administration's discretion.

Bonds shall not exceed a 25-year maturity, bear interest within limits set by Mississippi law, and must be issued by July 1, 2021.

Bonds are general obligations of the State of Mississippi with full faith and credit pledged for payment; principal and interest are exempt from state taxation.

Any remaining funds in the special fund after project completion shall be applied to pay debt service on the bonds, and investment earnings on the fund shall also be used for debt service.