MS SB3094

Authorizes issuance of state general obligation bonds not exceeding $10,000,000 to assist Tunica County Board of Supervisors with economic development costs.

Creates "2019 Tunica County Economic Development Fund" within state treasury to receive bond proceeds and disburse funds under direction of Department of Finance and Administration.

Bonds may mature up to 25 years from date of issue with interest rates not exceeding limits in Mississippi Code Section 75-17-101, and may be redeemed before maturity.

No bonds may be issued under this authority after July 1, 2023; remaining funds after project completion shall be applied to bond debt service.

Bonds are general obligations backed by full faith and credit of the state; any state treasury funds may be used to cover deficiencies if appropriated funds are insufficient for payment.