MS SB3000

Authorizes the issuance of state general obligation bonds not to exceed $5,000,000 to assist the City of Canton, Mississippi in constructing, furnishing, and equipping a convention center and related facilities.

Creates a special fund designated the "2018 Canton Convention Center Fund" within the State Treasury to receive bond proceeds and disburse funds for convention center construction costs under the discretion of the Department of Finance and Administration.

Grants the State Bond Commission authority to determine bond terms including interest rates (not to exceed limits in Mississippi Code Section 75-17-101), maturity dates (up to 25 years), and redemption terms, with all bonds backed by the full faith and credit of the State of Mississippi.

Requires all bond proceeds to be transferred to the special fund and authorizes any remaining funds, after project completion or abandonment, to be applied toward debt service on the issued bonds.

Prohibits bond issuance after July 1, 2022, and exempts bonds and their income from all taxation in Mississippi.