MS SB2067

Authorizes the State Bond Commission to issue up to $45,000,000 in general obligation bonds to assist Hinds County with construction and development costs of the Byram-Clinton Parkway Project.

Creates a special "2015 Byram-Clinton Parkway Project Construction Fund" within the State Treasury to receive bond proceeds and disburse funds under direction of the Department of Finance and Administration.

Bonds may mature up to 25 years from issuance with interest rates not exceeding limits in Mississippi Code Section 75-17-101, and all bonds are backed by the full faith and credit of the State of Mississippi.

No bonds may be issued under this authority after July 1, 2019, and any remaining fund balance after project completion shall be applied to pay debt service on the bonds.

Bonds and income are exempt from all Mississippi state taxation and qualify as legal investments for trustees, fiduciaries, banks, and insurance companies.