MS SB2153

Authorizes issuance of state general obligation bonds not exceeding $170,000 to fund storm drainage improvements on Oak Street in the Town of Crosby, Mississippi.

Creates a special fund designated "2017 Town of Crosby Storm Drainage Improvements Fund" within the State Treasury to receive and disburse bond proceeds for the project.

Bonds may be issued at any time until July 1, 2021, with maturity dates up to 25 years from issuance and interest rates not exceeding limits set by Mississippi Code Section 75-17-101.

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

Bonds and income from bonds are exempt from all state taxation and may be legally held by trustees, fiduciaries, banks, and insurance companies.