MS HB1688

Authorizes issuance of up to $250,000 in state general obligation bonds to assist the National Oak Park Alumni Association with repair, renovation, and restoration of its Alumni House in Laurel, Mississippi.

Creates a special fund designated the "2019 National Oak Park Alumni Association Alumni House Improvements Fund" to be maintained by the State Treasurer, with unexpended amounts not lapsing to the General Fund.

Authorizes the State Bond Commission to issue and sell bonds at a rate not exceeding limits in Section 75-17-101, with a maturity period not to exceed 25 years from date of issue.

Requires bond proceeds to be used solely for the stated purposes including costs incident to issuance and sale, with any remaining amounts applied to debt service after project completion.

Pledges the full faith and credit of the State of Mississippi for bond payment, making the bonds exempt from state taxation and legal investments for fiduciaries and financial institutions; no bonds may be issued after July 1, 2023.