MS SB2235

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 "2013 Byram-Clinton Parkway Project Construction Fund" within the State Treasury to receive bond proceeds and disburse funds at the discretion of the Department of Finance and Administration.

Bonds may mature up to 25 years from date of issue with interest rates not to exceed limits in Mississippi Code Section 75-17-101, with the State Bond Commission authorized to determine terms, pricing, and sale method.

Full faith and credit of the State of Mississippi is pledged to guarantee bond repayment; any insufficient appropriated funds shall be paid from the State Treasury.

Bond proceeds are exempt from state taxation and may be used as legal investments for trustees, fiduciaries, savings banks, and insurance companies; authority to issue bonds expires July 1, 2017.