MS SB3040

Authorizes issuance of state general obligation bonds not to exceed $5,000,000 for construction, furnishing, and equipping of a law enforcement officer training facility in Harrison County, Mississippi.

Creates the "2018 Harrison County Law Enforcement Officer Training Facility Fund" as a separate special fund within the State Treasury to receive bond proceeds and disburse funds for project costs.

Grants the State Bond Commission authority to issue bonds, prescribe their form, determine sale methods, and handle all issuance and sale procedures with interest rates subject to Section 75-17-101 limits and maturity not exceeding 25 years.

Pledges the full faith and credit of the State of Mississippi to back the bonds, with any funding shortfalls paid by the State Treasurer from general treasury funds.

Requires all bonds to be issued by July 1, 2022, and establishes that any remaining fund balances after project completion shall be applied to bond debt service.