MS SB3089

Increases the maximum bond authorization for the Hinds County Development Project Loan Fund from $20,000,000 to $30,000,000.

Expands the allowable uses of loan funds to explicitly include construction of an associated parking garage and related improvements alongside the existing hotel construction project.

Authorizes the Mississippi Development Authority to disburse loans from the fund to Hinds County for the hotel and parking garage project, with repayment terms not exceeding 20 years.

Requires Hinds County to pledge homestead exemption tax reimbursements and project-generated revenues for loan repayment, with potential withholding of state payments if the county falls into arrears.

Establishes that bonds issued under this authority are general obligations of Mississippi backed by the full faith and credit of the state, with interest rates based on the true interest cost of recent 20-year state general obligation bonds.