Senate Bill 3209

AN ACT TO AUTHORIZE THE GOVERNING AUTHORITIES OF THE CITY OF STARKVILLE, MISSISSIPPI, TO LEVY A TAX UPON THE GROSS SALES OF HOTELS AND MOTELS DERIVED FROM ROOM RENTALS AND UPON THE GROSS PROCEEDS OF SALES OF RESTAURANTS; TO PROVIDE THAT THE REVENUE FROM THE TAX SHALL BE EXPENDED BY THE CITY OF STARKVILLE TO PAY THE COSTS OF CONSTRUCTING AND/OR ACQUIRING, EQUIPPING, FURNISHING, OPERATING AND MAINTAINING PUBLIC FACILITIES; TO PROVIDE THAT THE TAX SHALL BE COLLECTED BY THE STATE TAX COMMISSION AND PAID TO THE CITY OF STARKVILLE; TO PROVIDE FOR AN ELECTION ON WHETHER THE TAX MAY BE LEVIED; TO AUTHORIZE THE CITY TO ISSUE BONDS, NOTES OR OTHER EVIDENCES OF INDEBTEDNESS IN AN AMOUNT NOT TO EXCEED $10,000,000.00 FOR THE PURPOSE OF ACQUIRING, CONSTRUCTING, EQUIPPING AND FURNISHING PUBLIC FACILITIES; TO PROVIDE THAT AFTER ANY INDEBTEDNESS THAT IS INCURRED UNDER THIS ACT IS RETIRED, THE PROCEEDS OF THE TAX SHALL BE PAID TO THE CITY FOR A PERIOD OF TWO YEARS FOR DEPOSIT INTO A TRUST FUND; TO PROVIDE THAT THE PRINCIPAL OF THE TRUST SHALL NOT BE WITHDRAWN FROM THE TRUST FUND; TO PROVIDE THAT INVESTMENT EARNINGS ON MONEY DEPOSITED INTO THE TRUST FUND SHALL BE PAID TO THE CITY AND APPLIED TO THE PAYMENT OF OPERATION, MAINTENANCE, REPLACEMENT AND CAPITAL EXPENSES OF PUBLIC FACILITIES; TO PROVIDE THAT THE INVESTMENT EARNINGS ON AMOUNTS IN THE FUND MAY ALSO BE USED FOR DEBT SERVICE FOR CAPITAL IMPROVEMENTS OR EXPANSIONS OR FOR THE PAYMENT OF CERTAIN EXPENSES RELATED TO SUCH CAPITAL IMPROVEMENTS; TO PROVIDE THAT THIS ACT SHALL BE REPEALED TWO YEARS AFTER THE RETIREMENT OF ANY INDEBTEDNESS INCURRED PURSUANT TO THIS ACT; AND FOR RELATED PURPOSES.

In the Senate

• Bennie L. Turner

  Sponsor

l9n doesn't hold this bill's text yet.

In the Senate Apr 4 – Apr 18

1. Apr 4Referred to the Senate committees on Local and Private and on Finance
2. Apr 8Reported from LP to FI in the Senate: title sufficient, do pass
3. Apr 18Died in committee in the Senate