MS HB421

Authorizes issuance of state general obligation bonds up to $5,000,000 to assist Marion County, Mississippi with planning, design, construction, furnishing and equipping of the Marion County Sportsplex and related facilities.

Creates a special fund called the "2018 Marion County Sportsplex Construction Fund" within the State Treasury to receive bond proceeds and disburse funds for sportsplex project costs.

Bonds shall not exceed 25 years maturity and no bonds may be issued after July 1, 2022.

Full faith and credit of the State of Mississippi is pledged to pay bond principal and interest; any shortfall shall be paid from the State Treasury.

Bond proceeds are exempt from state taxation and any remaining funds after project completion shall be applied to pay debt service on the bonds.