MS HB1529

Authorizes issuance of state general obligation bonds up to $10,500,000 to assist Hinds County, Mississippi in paying construction and development costs for the Byram-Clinton Parkway Project.

Creates a special "2014 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 exceeding limits in Mississippi Code Section 75-17-101, and may be redeemed before maturity at terms determined by the State Bond Commission.

No bonds may be issued under this authorization after July 1, 2018; any remaining funds in the special fund after project completion shall be applied to pay debt service on the bonds.

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