MS HB1455

Authorizes the State Bond Commission to issue up to $2,000,000 in general obligation bonds to fund extension of West Oxford Loop in Lafayette County from Mississippi Highway 6 to Mississippi Highway 314.

Creates a special "2015 West Oxford Loop Extension Fund" within the State Treasury to receive bond proceeds and disburse funds to the City of Oxford for project costs.

Requires proof that private, local, and/or federal sources have irrevocably dedicated matching funds equal to the amount of bonds issued before any bonds may be issued.

Bonds may mature up to 25 years from issue date with interest rates not to exceed limits in Mississippi Code Section 75-17-101, and no bonds may be issued after July 1, 2019.

Bonds are backed by the full faith and credit of the State of Mississippi, are exempt from state taxation, and proceeds are restricted solely to project costs and bond issuance expenses.