MS SB2028

Authorizes issuance of $300,000,000 in general obligation bonds for repair and rehabilitation of state-maintained highways and bridges with a National Bridge Inspection Standards sufficiency rating of 50 or less.

Authorizes issuance of $100,000,000 in general obligation bonds to provide additional funds for the State Aid Road Fund in the State Treasury.

Limits bond issuance to $150,000,000 per fiscal year for highway and bridge repairs and $50,000,000 per fiscal year for the State Aid Road Fund, with no bonds issued after July 1, 2019.

Creates the State Highway and Bridge Repair and Rehabilitation Fund as a separate special fund within the State Treasury, with unexpended amounts not lapsing into the General Fund and interest earnings deposited back into the fund.

Pledges the full faith and credit of the State of Mississippi for bond repayment, and exempts bonds and income from state taxation.