MS HB1524

Authorizes issuance of state general obligation bonds not to exceed $3,625,000 to assist the City of Greenville, Mississippi with costs of constructing and extending Colorado Street from George Abraham Boulevard to VFW Road, including land acquisition and professional services.

Creates a special fund called the "2018 City of Greenville - Colorado Street Extension Fund" within the State Treasury to receive bond proceeds and disburse funds for the project under the discretion of the Department of Finance and Administration.

Bonds must be issued by July 1, 2022, with maturity dates not exceeding 25 years and interest rates subject to Mississippi law limits.

Establishes that bonds are general obligations of the State of Mississippi backed by the full faith and credit of the state; any remaining funds after project completion shall be applied to bond debt service.

Designates bonds as legal investments for fiduciaries, banks, and insurance companies in Mississippi, and exempts bond income from state taxation.