MS HB1006

Authorizes issuance of up to $12,800,000 in state general obligation bonds to assist Forrest County with improvements to Glendale Avenue and construction of a new bridge spanning the Bouie River.

Creates a special fund designated the "2018 Forrest County Road and Bridge Improvements Fund" within the State Treasury to receive bond proceeds and disburse funds for the specified projects.

Bonds may be issued at one time or over time but not after July 1, 2022, with maturity not exceeding 25 years from date of issue.

Full faith and credit of the State of Mississippi is pledged to pay principal and interest on the bonds, with any deficiency paid from general state funds.

Bonds are exempt from Mississippi taxation and qualify as legal investments for trustees, fiduciaries, banks, and insurance companies.