MS HB60

Authorizes issuance of up to $2,000,000 in state general obligation bonds for construction, repair, renovation, and improvement of buildings, facilities, exhibits, and infrastructure at the Jackson Zoo in Jackson, Mississippi.

Creates a special "2019 Jackson Zoo Improvements Fund" within the State Treasury to receive bond proceeds and disburse funds for authorized Jackson Zoo projects.

Bonds may not be issued after July 1, 2023, and shall mature within 25 years from date of issue, with interest rates not to exceed limits set in Mississippi Code Section 75-17-101.

Upon project completion or abandonment, any remaining fund balance shall be applied to pay debt service on the bonds issued under this authorization.

Full faith and credit of the State of Mississippi is pledged for bond repayment; bonds are exempt from Mississippi state taxation and qualify as legal investments for trustees, banks, and insurance companies.