MS HB958

Increases the total amount of general obligation bonds authorized for the Department of Marine Resources from $30 million to $50 million.

Authorizes up to $18 million of bond proceeds for planning, design, and construction of improvements at Point Cadet Marina in Biloxi, including renovations to piers, docks, bulkheads, and facilities for University of Southern Mississippi research vessels, commercial and recreational vessels, a public fishing pier on the breakwater, and dredging operations.

Requires the Department of Marine Resources to consult with and obtain approval from the City of Biloxi regarding design and specifications for the Point Cadet Marina capital improvements.

Creates the "Department of Marine Resources Equipment and Facilities Fund" to receive bond proceeds and the "Department of Marine Resources Equipment and Facilities Bond Sinking Fund" to pay principal and interest on bonds, with the full faith and credit of the State pledged for repayment.

Limits operational expenses paid from bond proceeds to no more than 3% of the total bond amount issued.