MS SB3053

Authorizes issuance of state general obligation bonds up to $300,000 to assist the City of Houston, Mississippi in constructing, furnishing, and equipping an extension of the Tanglefoot Trailhead Pavilion, including an office area and maintenance area.

Creates a special fund designated as the "2018 City of Houston Tanglefoot Trailhead Pavilion Extension Fund" within the State Treasury, maintained separately from the General Fund, with interest earnings deposited back into the fund.

Grants the State Bond Commission authority to issue and sell bonds, determine sale methods, prescribe bond forms, and handle all administrative details related to bond issuance and delivery.

Limits bond issuance authority to July 1, 2022, with bonds maturing no later than 25 years from date of issue and bearing interest at rates not exceeding limits in Mississippi Code Section 75-17-101.

Pledges the full faith and credit of the State of Mississippi to back the bonds, making them general obligations of the state, and exempts bond proceeds and income from state taxation.