MS HB669

Authorizes issuance of state general obligation bonds up to $500,000 to assist Scenic Rivers Development Alliance with acquiring approximately 150 acres from the U.S. Department of Agriculture in Franklin County, Mississippi.

Funds from bond proceeds shall be used for construction and development of a conference center, related buildings and facilities on the acquired land, and related infrastructure improvements.

Creates a special fund designated "2019 Scenic Rivers Development Alliance Land Acquisition and Improvements Fund" within the State Treasury to receive bond proceeds and hold project funds.

Bonds may not be issued after July 1, 2023, and shall mature within 25 years from date of issue with interest rates complying with state law limits.

Full faith and credit of the State of Mississippi is pledged to guarantee payment of principal and interest on bonds; bond income is exempt from state taxation.