MS HB377

Authorizes the State Bond Commission to issue up to $100,000 in general obligation bonds to fund wind energy research for Sunflower County, Mississippi.

Creates the "2018 Sunflower County Wind Energy Research Fund" as a separate fund within the State Treasury to receive bond proceeds and any interest earnings.

Bonds may be issued at any time until July 1, 2022, with a maturity period not exceeding 25 years and interest rates not to exceed limits set in Mississippi Code Section 75-17-101.

Remaining funds in the special fund after project completion or abandonment shall be applied to pay debt service on the bonds, with the full faith and credit of the State pledged to secure repayment.

Bonds are exempt from state taxation and qualify as legal investments for trustees, fiduciaries, savings banks, and insurance companies in Mississippi.