MS HB1342

Authorizes the State Bond Commission to issue up to $1,500,000 in general obligation bonds to assist the City of Jackson with costs associated with renovating the Russell C. Davis Planetarium.

Creates a special fund within the State Treasury designated as the "2021 City of Jackson - Russell C. Davis Planetarium Renovation Fund" to receive bond proceeds and disburse funds for the project.

Bonds may be issued at any time until July 1, 2025, with a maturity period not to exceed 25 years from the date of issue.

Bonds are backed by the full faith and credit of the State of Mississippi; if appropriated funds are insufficient to pay principal and interest, the State Treasurer shall pay any deficiency from unappropriated state funds.

Bond proceeds and income are exempt from all state taxation, and remaining funds after project completion shall be applied to pay debt service on the bonds.