MS HB1696

Authorizes issuance of state general obligation bonds up to $80,000 to assist the City of Natchez with costs of cutting and removing trees and vegetation to inspect and preserve the Natchez Bluff retaining wall and related structures.

Creates a special fund called the "2019 Natchez Bluff Retaining Wall Fund" within the State Treasury to receive bond proceeds and disburse funds at the discretion of the Department of Finance and Administration.

Grants the State Bond Commission authority to determine bond terms including maturity (not exceeding 25 years), interest rates, and sale method, with all bonds backed by the full faith and credit of the State of Mississippi.

Specifies that bonds cannot be issued after July 1, 2023, and any remaining fund balance after project completion shall be applied to debt service on the bonds.

Exempts bonds and income therefrom from all state taxation and designates bonds as legal investments for trustees, fiduciaries, and financial institutions in Mississippi.