MS SB2843

Authorizes the State Bond Commission to issue up to $1,700,000 in general obligation bonds to assist Yazoo City in constructing the Willie Morris Parkway connecting Mississippi Highway 3 with Grand Avenue (U.S. Highway 49).

Creates the "2013 Willie Morris Parkway Construction Fund" as a separate fund within the State Treasury to receive bond proceeds and disburse funds for project costs.

Bonds may not be issued after July 1, 2017, with a maturity date not exceeding 25 years from issuance, and interest rates limited by Mississippi Code Section 75-17-101.

Bonds are backed by the full faith and credit of the State of Mississippi, with principal and interest paid from state appropriations or general treasury funds if insufficient appropriations exist.

Any remaining fund balance after project completion, abandonment, or inability to complete timely shall be applied to pay debt service on the bonds; bond income is exempt from Mississippi state taxation.