MS HB1531

Authorizes issuance of state general obligation bonds up to $2,500,000 to assist the City of Jackson with repair, rehabilitation, replacement, or reconstruction of the Woodrow Wilson Avenue Bridge.

Creates the "2014 City of Jackson Woodrow Wilson Avenue Bridge Improvements Fund" within the State Treasury to receive bond proceeds and disburse funds at the discretion of the Department of Finance and Administration.

Permits replacement and reconstruction of the bridge only if matching or other funds from non-state sources are available for such purposes.

Bonds shall mature within 25 years from date of issue, bear interest at rates not to exceed limits in Mississippi Code Section 75-17-101, and are general obligations of the State with full faith and credit pledge.

No bonds may be issued under this authority after July 1, 2018; bonds and income therefrom are exempt from all Mississippi state taxation.