MS SB2978

Authorizes the issuance of state general obligation bonds up to $500,000 to fund repairs and renovations at Tishomingo State Park under the Mississippi Department of Wildlife, Fisheries and Parks.

Creates a special fund called the "2019 Tishomingo State Park Repair and Renovation Fund" to be maintained separately within the State Treasury for disbursement of bond proceeds and project costs.

Bond proceeds must be used for repairs to Haynes Lake for water retention and repairs and renovations to cabins and other buildings at the park.

Bonds may not be issued after July 1, 2023, and shall mature within twenty-five years with interest rates not to exceed limits set by Mississippi Code Section 75-17-101.

Bonds are backed by the full faith and credit of the State of Mississippi and are exempt from state taxation, with principal and interest payable from state appropriations if dedicated funds are insufficient.