MS SB2091

Authorizes issuance of state general obligation bonds not to exceed $8,100,000 for widening Mississippi Highway 16 to three lanes in Kemper County, with bond issuance authorized through July 1, 2021.

Creates the "Mississippi Highway 16 Improvement Fund" as a separate state treasury account to receive bond proceeds and disburse funds for widening two specific segments of Highway 16 near DeKalb City and between points where Highway 39 intersects Highway 16.

Grants the State Bond Commission authority to determine bond terms including denomination, interest rates, maturity dates (up to 25 years), and redemption provisions, with proceeds payable semiannually or annually.

Pledges the full faith and credit of the State of Mississippi to guarantee repayment of bonds, with any funding shortfalls covered by the State Treasurer from unappropriated treasury funds.

Exempts bond income from state taxation and designates bonds as legal investments for trustees, fiduciaries, and state financial institutions; unused funds after four years must be applied to debt service on the bonds.