MS HB1642

Authorizes the issuance of state general obligation bonds not to exceed $12,000,000 to fund construction costs of the Chickasaw Heritage Center in Tupelo, Mississippi.

Creates a special fund designated the "2018 Chickasaw Heritage Center Construction Fund" within the State Treasury to receive bond proceeds and disburse funds for project costs.

Grants the State Bond Commission authority to issue bonds, prescribe bond terms, determine sale methods, and manage the issuance process without additional legislative action.

Bonds may mature up to 25 years from issue date, bear interest per statutory limits, and must be issued by July 1, 2022; any remaining funds after project completion shall be applied to debt service.

Pledges the full faith and credit of Mississippi to repay bonds; any state appropriations shortfall shall be covered by the State Treasurer from unappropriated funds; bonds are exempt from state taxation.