MS HB1031

Authorizes the State Bond Commission to issue up to $2,500,000 in general obligation bonds to assist the City of Jackson with costs of repairing, rehabilitating, replacing, or reconstructing the Woodrow Wilson Avenue Bridge.

Creates the "2013 City of Jackson Woodrow Wilson Avenue Bridge Improvements Fund" within the State Treasury to receive bond proceeds and disburse funds for bridge project costs.

Requires matching or other non-state funds to be available before any bond proceeds can be used for bridge replacement and reconstruction (repair and rehabilitation can proceed with state funds alone).

Bonds may not be issued after July 1, 2017, and have a maximum maturity of 25 years from issue date with interest rates subject to Mississippi Code Section 75-17-101.

Pledges the full faith and credit of the State of Mississippi to pay principal and interest on the bonds; any remaining funds after project completion shall be applied to debt service on the bonds.