MS SB2398

Extends the maximum maturity period for revenue bonds issued by counties or municipalities for toll roads and toll bridges from 30 years to 40 years from the date of issuance.

Applies to bonds issued under Sections 65-43-7 and 65-43-15 of the Mississippi Code of 1972.

Bonds remain payable solely from revenues derived from the toll road or bridge project, not from county or municipal tax revenues.

Does not constitute debt subject to constitutional, statutory, or charter debt limitations for the issuing county or municipality.

Effective upon passage.