HB 1669 Summary

• Authorizes issuance of general obligation state bonds up to $750,000 to assist Scenic Rivers Development Alliance with repair, renovation, and improvements to parks, lakes, and facilities in Amite, Franklin, Pike, Walthall, and Wilkinson counties, including Ethel Vance Park, Okhissa Lake, Bogue Chitto Water Park, Lake Walthall, and Clark Creek Trail.

• Authorizes issuance of general obligation state bonds up to $500,000 for Scenic Rivers Development Alliance to acquire approximately 150 acres of land from the U.S. Department of Agriculture in Franklin County and construct a conference center and related buildings and infrastructure on the property.

• Creates two special funds within the State Treasury to receive and disburse bond proceeds: the "2019 Scenic Rivers Development Alliance Improvements Fund" and the "2019 Scenic Rivers Development Alliance Land Acquisition and Improvements Fund."

• Bonds shall mature within 25 years, be signed by the State Bond Commission chairman, backed by full faith and credit of the state, and be exempt from state taxation; no bonds may be issued after July 1, 2023.

• Establishes that unexpended funds and investment earnings shall be used for debt service on bonds, and provides for bond validation procedures through Hinds County Chancery Court.