MS HB1447

Authorizes the State Bond Commission to issue up to $2,500,000 in general obligation bonds to assist the City of Jackson with repair, rehabilitation, or replacement and reconstruction of the Woodrow Wilson Avenue Bridge.

Creates a special fund designated the "2015 City of Jackson Woodrow Wilson Avenue Bridge Improvements Fund" within the State Treasury to receive bond proceeds and disburse funds for bridge project costs.

Requires matching or other non-state funds to be available before bond proceeds can be used for bridge replacement and reconstruction, though repair and rehabilitation may proceed without matching funds.

Establishes that bonds may be issued at any time before July 1, 2019, with maturity not exceeding 25 years, and any remaining fund balances after project completion shall be applied to pay debt service on the bonds.

Pledges the full faith and credit of the State of Mississippi to guarantee bond repayment, makes bonds exempt from state taxation, and authorizes the State Treasurer to certify necessary warrants for payment of principal and interest when due.