MS HB1247

Authorizes issuance of up to $45,000,000 in state general obligation bonds to assist Hinds County, Mississippi with construction and development costs of the Byram-Clinton Parkway project.

Creates a special fund called the "2014 Byram-Clinton Parkway Project Construction Fund" within the State Treasury to receive bond proceeds and disburse funds for project costs.

Bonds may be issued until July 1, 2018, with principal and interest payable over a period not to exceed 25 years from the date of issue.

Pledges the full faith and credit of the State of Mississippi to guarantee payment of principal and interest on the bonds.

Bonds and income therefrom are exempt from state taxation and may be validated through Chancery Court proceedings in Hinds County's First Judicial District.