MS HB1618

Authorizes issuance of up to $7,000,000 in state general obligation bonds to fund construction of a multi-user aerostrip and related facilities at Stennis International Airport in Hancock County, Mississippi.

Creates the "2020 Stennis International Airport Aerostrip Construction Fund" as a special fund in the State Treasury to receive bond proceeds and disburse funds for the aerostrip project.

Grants the State Bond Commission authority to determine bond terms (interest rates not exceeding limits in Mississippi Code Section 75-17-101, maturity up to 25 years, redemption provisions) and manage the sale and issuance of bonds.

Pledges the full faith and credit of the State of Mississippi to guarantee bond repayment; any insufficiency in appropriated funds shall be paid by the State Treasurer from unappropriated state funds.

Establishes July 1, 2024 as the deadline for bond issuance and exempts bonds and their income from all Mississippi state taxation.