MS HB1546

Authorizes the issuance of state general obligation bonds up to $100,000 to assist Community Open Arms Transformation with repair, renovation, furnishing, and equipping of its building and related facilities in Jackson, Mississippi.

Creates the "2018 Community Open Arms Transformation Building Improvements Fund" within the State Treasury to receive bond proceeds and disburse funds for the specified project purposes.

Grants the State Bond Commission authority to determine bond terms including interest rates (subject to statutory limits), maturity dates (not exceeding 25 years), and sale method, with no bonds to be issued after July 1, 2022.

Pledges the full faith and credit of the State of Mississippi to pay bond principal and interest, with any shortfall to be covered by the State Treasurer from unappropriated state funds.

Exempts issued bonds and their income from all taxation in Mississippi and designates them as legal investments for trustees, fiduciaries, banks, and insurance companies.