MS HB1593

Authorizes the State Bond Commission to issue up to $800,000 in state general obligation bonds to assist Pearl River County with repair and renovation costs of the Pearl River County Courthouse.

Creates a special fund called the "2019 Pearl River County Courthouse Repair and Renovation Fund" within the State Treasury to receive bond proceeds and disburse funds for the courthouse project.

Bonds may be issued at any time before July 1, 2023, with a maturity date not to exceed 25 years from issuance and interest rates subject to state limits.

Full faith and credit of the State of Mississippi is pledged to guarantee payment of principal and interest; any deficiency shall be paid from the State Treasury.

Bond proceeds and any remaining funds after project completion shall be used to pay debt service on the bonds; bonds and interest income are exempt from Mississippi state taxation.