MS SB2442

Authorizes issuance of state general obligation bonds up to $3,000,000 to assist the City of Jackson with repair, rehabilitation, or reconstruction of the Woodrow Wilson Avenue Bridge.

Creates a special fund called 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.

Bonds may have maturity dates up to 25 years from issuance, with interest rates not exceeding limits set by Mississippi Code Section 75-17-101, and may be called for redemption at the State's option.

No bonds may be issued after July 1, 2017, and any remaining fund balances after project completion shall be applied to debt service on the bonds.

Bonds are general obligations of the State of Mississippi backed by the full faith and credit of the state, and are exempt from all Mississippi state taxation.