MS HB1615

Authorizes issuance of up to $3,500,000 in state general obligation bonds to fund the extension of Tyner Road to the Evelyn Gandy Parkway in Petal, Mississippi, and related water and sewer infrastructure improvements

Creates the "2016 City of Petal-Tyner Road Improvements Fund" in the State Treasury to receive bond proceeds, with the Department of Finance and Administration controlling disbursements

Bonds must be issued by July 1, 2020, with a maximum maturity of 25 years from the date of issue

Bonds are backed by the full faith and credit of the State of Mississippi and are exempt from all state taxation

Any remaining funds after project completion or abandonment must be applied to debt service on the bonds