MS HB1553

Authorizes issuance of up to $24,000,000 in state general obligation bonds for the Reunion Parkway project in Madison County, with a limit of $8,000,000 per fiscal year and no issuance after July 1, 2022.

Establishes the "2018 Reunion Parkway Fund" within the State Treasury to receive bond proceeds and disburse funds for preconstruction, design, engineering, land acquisition, right-of-way acquisition, construction, and development of the Reunion Parkway from Bozeman Road to Parkway East.

Bonds may mature up to 25 years from issuance with interest rates not exceeding limits in Mississippi Code Section 75-17-101, and may be redeemable before maturity.

Pledges the full faith and credit of Mississippi for bond repayment, with the State Treasury responsible for any deficiency if legislative appropriations are insufficient.

Bonds and their income are exempt from Mississippi state taxation and may be validated in Chancery Court of the First Judicial District of Hinds County.