MS HB1448

Authorizes the State Bond Commission to issue general obligation bonds up to $1,500,000 to assist the City of Jackson with repair and rehabilitation of the Woodrow Wilson Avenue Bridge.

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

Bonds may be issued at any time before July 1, 2019, with a maturity period not to exceed 25 years and interest rates subject to Mississippi Code Section 75-17-101.

Bonds are backed by the full faith and credit of the State of Mississippi, and any unexpended funds remaining after project completion shall be applied to pay debt service on the bonds.

Bonds are exempt from all state taxation and qualify as legal investments for trustees, fiduciaries, banks, and other financial institutions.