MS HB1700

Increases the maximum amount of bonds authorized for the Hinds County Development Project Loan Fund from $20,000,000 to $30,000,000.

Authorizes funds from the loan program to be used for constructing an associated parking garage and related improvements for a hotel project in Hinds County with at least 200 guest rooms.

Establishes that loans to Hinds County must be repaid within 20 years at an interest rate equal to the true interest cost on the most recent 20-year state general obligation bonds.

Requires Hinds County to pledge homestead exemption tax loss reimbursements and project-generated revenues for loan repayment.

Designates the State Bond Commission to issue and sell the general obligation bonds, with full faith and credit of the State of Mississippi pledged for repayment.