MS HB633

Authorizes issuance of state general obligation bonds up to $2,500,000 to fund improvements to Smith Park in Jackson, Mississippi.

Creates a separate "2018 Smith Park Improvements Fund" within the State Treasury to receive bond proceeds and disburse funds for construction, repair, renovation, and infrastructure improvements at the park.

Bonds may be issued at any time until July 1, 2022, with maturity dates up to 25 years from issuance, and shall bear the full faith and credit pledge of the State of Mississippi.

Bond proceeds and investment earnings on fund amounts shall be used to pay project costs, with any remaining funds applied to debt service on the bonds after project completion.

Bonds are exempt from state taxation and constitute legal investments for trustees, fiduciaries, banks, and insurance companies.