MS HB1354

Authorizes the State Bond Commission to issue up to $3,000,000 in state general obligation bonds to fund upgrades and improvements to the Port of Vicksburg in Warren County, Mississippi.

Creates a special "2021 Port of Vicksburg Improvements Fund" within the State Treasury to receive bond proceeds and disburse funds for port projects at the discretion of the Department of Finance and Administration.

Bonds may be issued at any time before July 1, 2025, with maturity dates not exceeding 25 years from issuance and interest rates subject to Mississippi Code Section 75-17-101.

Pledges the full faith and credit of the State of Mississippi to guarantee payment of bond principal and interest; any shortfalls must be covered by the State Treasurer from general treasury funds.

Specifies that bond proceeds are used solely for port improvement costs and issuance expenses, with remaining funds applied to debt service after project completion; bond income is exempt from state taxation.