MS SB2078

Authorizes issuance of state general obligation bonds totaling up to $28,000,000 to fund construction and reconstruction of Mississippi Highway 24 from one mile west of Liberty to Interstate 55, expanding it to four lanes (two lanes in each direction).

Limits bond issuance to $7,000,000 per fiscal year with no bonds issued after July 1, 2025, and establishes a special "Mississippi Highway 24 Improvement Fund" within the State Treasury to hold and disburse bond proceeds.

Grants the State Bond Commission authority to prescribe bond terms (interest rates not exceeding statutory limits, maturity up to 25 years), determine sale method, and handle issuance and delivery of bonds.

Makes bonds full general obligations of Mississippi with the state's full faith and credit pledged for payment; bonds are exempt from state taxation and qualify as legal investments for fiduciaries and financial institutions.

Requires unused funds remaining after four years to be reported to the State Bond Commission, which may then direct remaining amounts to pay debt service on the bonds.