House Bill 1592 Summary

• Authorizes issuance of $3,150,000 in state general obligation bonds for repair, renovation, and improvements to the Kirk Fordice Equine Center and Mississippi Coliseum, with proceeds deposited into the "2019 Mississippi State Fairgrounds Improvements Fund."

• Authorizes issuance of $375,000 in state general obligation bonds for repair, renovation, and improvements to the Mississippi Agriculture and Forestry Museum in Jackson, with proceeds deposited into the "2019 Mississippi Agriculture and Forestry Museum Improvements Fund."

• Authorizes issuance of $4,000,000 in state general obligation bonds to pay costs for acquisition of real property in Jackson, Hinds County, as authorized by Chapter 405, Laws of 2018, with proceeds deposited into the "2019 Mississippi State Fairgrounds Property Acquisition Fund."

• Bonds are backed by the full faith and credit of the State of Mississippi, mature in no more than 25 years, are exempt from state taxation, and may be issued by the State Bond Commission through July 1, 2023.

• Establishes that bond proceeds may be used solely for authorized projects, with any remaining funds after project completion applied to debt service on the bonds.