MS SB2654

Authorizes issuance of state general obligation bonds up to $10,000,000 to assist Hinds County, Mississippi with construction and development costs of the Byram-Clinton Parkway Project.

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

Bonds shall mature within 25 years from date of issue with interest rates not exceeding limits set forth in Mississippi Code Section 75-17-101, and no bonds may be issued after July 1, 2019.

Pledges the full faith and credit of Mississippi for payment of principal and interest, with any shortfall to be paid from the State Treasury from unappropriated funds.

Provides that bonds are exempt from Mississippi taxation and qualify as legal investments for trustees, fiduciaries, banks, and insurance companies organized under state law.