MS SB2207

Authorizes issuance of up to $500,000 in state general obligation bonds to assist Quitman County in constructing, furnishing, and equipping a passenger train depot in Marks, Mississippi.

Creates a special "2018 Marks Passenger Train Depot Fund" in the State Treasury to receive bond proceeds and disburse funds under Department of Finance and Administration discretion.

Bonds may not be issued after July 1, 2022, and shall mature no later than 25 years from issuance date.

State Treasurer and State Bond Commission manage bond issuance, sale procedures, and transfer proceeds to the special fund, with full faith and credit of the state pledged for repayment.

Upon project completion, abandonment, or inability to complete timely, any remaining fund amounts shall be used to pay bond debt service.