MS HB1743

Increases the maximum amount of bonds authorized for the Hinds County Development Project Loan Fund from $20,000,000 to $30,000,000

Authorizes loan fund money to be used for construction of a parking garage and related improvements associated with a hotel project in Hinds County

Limits bond issuance to no more than $3,500,000 per fiscal year

Establishes that loans must be repaid within 20 years at an interest rate equal to the true interest cost on the most recent 20-year state general obligation bonds

Creates a bond sinking fund where county loan payments are deposited to pay principal and interest on issued bonds, with the Legislature providing any deficit amounts from the State General Fund