MS HB1457

Authorizes issuance of up to $1,500,000 in state general obligation bonds to fund repair and rehabilitation of the Woodrow Wilson Avenue Bridge in Jackson, Mississippi

Creates the "2016 City of Jackson Woodrow Wilson Avenue Bridge Improvements Fund" as a special fund within the State Treasury, with unexpended amounts and interest earnings remaining in the fund rather than lapsing to the General Fund

Bonds must be issued before July 1, 2020, and shall mature no later than 25 years from the date of issue

Bonds are backed by the full faith and credit of the State of Mississippi, with the State Treasurer authorized to pay principal and interest from any available Treasury funds if appropriated funds are insufficient

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