MS HB1676

Authorizes issuance of up to $45,000,000 in state general obligation bonds to assist Hinds County, Mississippi with construction and development costs of the Byram-Clinton Parkway project.

Creates a special fund designated "2017 Byram-Clinton Parkway Project Construction Fund" within the State Treasury to receive and disburse bond proceeds for the project.

Bonds may be issued at any time by the State Bond Commission until July 1, 2021, with maturity dates not to exceed 25 years from issuance and interest rates subject to Mississippi Code limits.

Pledges the full faith and credit of the State of Mississippi to guarantee payment of principal and interest on the bonds, with any shortfall paid from the State Treasury.

Bonds and their income are exempt from all state taxation and may be validated through Chancery Court proceedings in Hinds County's First Judicial District.