MS HB1763

Authorizes Mississippi to issue up to $255,000 in state general obligation bonds to assist the Town of Ecru with construction of a welcome center, exhibit space for M.B. Mayfield exhibits, and land acquisition.

Creates a "2020 Town of Ecru Welcome Center Construction Fund" within the State Treasury to receive bond proceeds and disburse funds at the discretion of the Department of Finance and Administration.

Bonds shall not exceed 25 years maturity, cannot be issued after July 1, 2024, and any remaining funds after project completion must be applied to pay debt service on the bonds.

Bonds are general obligations of the State of Mississippi with full faith and credit pledged; income from the bonds is exempt from state taxation.

Takes effect July 1, 2020.