MS HB1642

Authorizes issuance of general obligation bonds not to exceed $10,000,000 to fund Scenic Rivers Development Alliance projects in Franklin, Walthall, Pike, Amite, and Wilkinson counties.

Bonds may be issued at any time before July 1, 2029, with maturity dates not exceeding 25 years and interest rates subject to Mississippi Code Section 75-17-101.

Creates the "2025 Scenic Rivers Development Alliance Fund" within the State Treasury to disburse bond proceeds for site development at Okhissa Lake Lodge and Conference Center and facility improvements including parking, roads, buildings, river/lake access, erosion control, and utilities.

Pledges the full faith and credit of the State of Mississippi for bond repayment, with any insufficient appropriations to be paid by the State Treasurer from general treasury funds.

Bonds and income are exempt from Mississippi taxation and become legal investments for trustees, fiduciaries, banks, and insurance companies; act takes effect July 1, 2025.