Senate Bill 3175

AN ACT TO PROVIDE FOR A TAX ON GROSS PROCEEDS OF ROOM RENTALS BY HOTELS AND MOTELS IN HARRISON COUNTY, MISSISSIPPI, TO BE EXPENDED TO RETIRE BONDS AUTHORIZED TO BE ISSUED BY THE COUNTY PURSUANT TO THIS ACT; TO AUTHORIZE THE ISSUANCE OF GENERAL OBLIGATION BONDS OF THE COUNTY IN THE AMOUNT OF $72,000,000.00 TO DEFRAY THE COSTS OF EXPANDING AND RENOVATING THE MISSISSIPPI COAST COLISEUM AND CONVENTION CENTER; AND FOR RELATED PURPOSES.

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MISSISSIPPI:

SECTION 1. For the purposes of this act:

(a) "Board of supervisors" means the Board of Supervisors of Harrison County, Mississippi.

(b) "County" means Harrison County, Mississippi.

(c) "Hotel" or "motel" means and includes any establishment engaged in the business of furnishing or providing more than ten (10) rooms intended or designed for dwelling, lodging or sleeping purposes that at any one time will accommodate transient guests on a daily or weekly basis and that are known to the trade as such.

SECTION 2. (1) Upon the issuance of bonds provided for in Section 5 of this act, the board of supervisors shall levy, assess and collect from every person, firm, corporation or other entity operating hotels or motels in the county, a tax, in addition to all other taxes or assessments now imposed, which shall be equal to three percent (3%) of the gross proceeds from room rentals of all hotels or motels in the county.

(2) Persons, firms, corporations or other entities liable for the tax imposed by subsection (1) of this section shall add the amount of such tax to the room rental and in addition thereto shall collect, insofar as practicable, the amount of the tax due from the person renting the room at the time of payment therefor.

SECTION 3. (1) On or before the fifteenth day of the month prior to the imposition of the tax authorized in Section 2 of this act, the board of supervisors shall give written notification to the Chairman of the State Tax Commission of the date on which the tax will become effective.

(2) The tax shall be collected by and paid to the State Tax Commission in the same manner as state sales taxes are computed, collected and paid, and full enforcement provisions and all other provisions of Chapter 65, Title 27, Mississippi Code of 1972, shall apply as necessary to the implementation of this act.

(3) Except as otherwise provided in Section 27-3-58, the revenue from the special tax collected under the provisions of this section during the preceding month shall be paid to the county on or before the fifteenth day of each month.

(4) The proceeds of such taxes shall be placed into a separate fund apart from the county general fund and any other funds of the county, and shall be expended by the county as provided in Section 9(1) of this act.

(5) The tax imposed by this act shall stand repealed on the first day of the month immediately succeeding the date the payment of the principal of, redemption premium, if any, and interest on the bonds issued pursuant to this act have been paid in full. Any revenue from the tax remaining after the payment of the principal of, redemption premium, if any, and interest on the bonds issued pursuant to this act have been paid in full shall be transferred to the county general fund.

SECTION 4. The proceeds of the bonds issued pursuant to this act shall be utilized for the purpose of defraying the cost of constructing, repairing, equipping, remodeling, enlarging, expanding or improving the Mississippi Coast Coliseum and Convention Center.

SECTION 5. The board of supervisors is authorized and empowered, in its discretion, to issue general obligation bonds of the county in the aggregate principal amount not to exceed Seventy-two Million Dollars ($72,000,000.00) for the purposes provided for in Section 4 of this act. As used in this act, "bonds" shall be deemed to mean and include bonds, refunding bonds, notes or certificates of participation. The full faith and credit of the county shall be irrevocably pledged for the payment of the principal of and interest on the bonds.

SECTION 6. Bonds authorized by this act, other than refunding bonds, shall be issued pursuant to Sections 19-9-1 through 19-9-31 or as may be otherwise provided by law.

SECTION 7. Bonds issued pursuant to this act shall not be deemed indebtedness within the meaning of Section 19-9-5. Bonds issued pursuant to this act shall be submitted by validation under Sections 31-13-1 through 31-13-11.

SECTION 8. Bonds issued under this act may be refunded at any time and from time to time by the county pursuant to an authorizing resolution of the board of supervisors, directing issuance of refunding bonds in accordance with the "Mississippi Bond Refinancing Act" (Sections 31-27-1 et seq., Mississippi Code of 1972).

SECTION 9. (1) The avails of the tax provided for in this act shall be used solely for the payment of the principal of, redemption premium, if any, and interest on the bonds, and for the payment of expenses of issuance thereof or reserve funds therefor.

(2) To the extent the proceeds of the tax provided for in this act and any other amounts which may, from time to time, be available for the payment of the principal of, redemption premium, if any, and interest on the bonds, including any available revenues of the project, are not sufficient for such purpose, the board of supervisors shall levy a special ad valorem tax upon all of the taxable property within the county which shall be sufficient, together with other money available for such purpose, to provide for the payment of the principal of, redemption premium, if any, and interest on such bonds according to the terms thereof.

SECTION 10. This act shall be liberally construed for the purposes herein set out, the power hereby granted shall be deemed to be full and complete authority for the issuance of bonds under this act and shall be construed as additional, cumulative and supplemental to any power granted to the county by any general or local and private act of the Legislature.

SECTION 11. This act shall take effect and be in force from and after its passage.