MS HB1121

Increases the maximum maturity period for revenue bonds issued to finance toll roads and toll bridges from 30 years to 40 years from date of issuance.

Amends Section 65-43-7 to allow counties and municipalities to issue bonds with up to 40-year maturity periods for toll road and bridge projects.

Amends Section 65-43-15 to extend the maximum bond maturity period to 40 years for bonds authorized under Sections 65-43-9 through 65-43-39.

Bonds remain payable solely from project revenues and do not constitute debt of the county, municipality, or political subdivision.

Takes effect July 1, 2014.