MS SB3018

Authorizes issuance of up to $10,000,000 in state general obligation bonds to assist Hinds County with construction and development of the Byram-Clinton Parkway Project

Creates a special fund designated "2012 Byram-Clinton Parkway Project Construction Fund" within the State Treasury, with unexpended amounts and interest earnings remaining in the fund rather than lapsing to the General Fund

Bonds may mature up to 25 years from issue date with interest rates not exceeding limits in Mississippi Code Section 75-17-101, and no bonds may be issued after July 1, 2016

State Bond Commission acts as issuing agent with authority to determine bond form, sale method, and may sell bonds through sealed bids at public sale or by negotiation

Bonds are backed by the full faith and credit of the State of Mississippi, are exempt from state taxation, and are legal investments for trustees, fiduciaries, banks, and insurance companies