MS SB2333

Authorizes the issuance of state general obligation bonds up to $1,700,000 to assist Yazoo City, Mississippi in constructing the Willie Morris Parkway to connect Mississippi Highway 3 with Grand Avenue.

Creates a special fund designated the "2014 Willie Morris Parkway Construction Fund" within the State Treasury to receive bond proceeds and disburse funds for project costs at the discretion of the Department of Finance and Administration.

Grants the State Bond Commission authority to determine bond terms, sell bonds by public bid or negotiation, and transfer proceeds to the special fund, with all bonds backed by the full faith and credit of the State.

Allows any remaining funds in the special fund after project completion to be used for debt service on the bonds, with investment earnings also applied to bond payment.

Bonds cannot be issued after July 1, 2018 and shall mature within twenty-five years, with income from the bonds exempt from state taxation.