MS HB1633

Authorizes issuance of state general obligation bonds not to exceed $8,000,000 to fund the Reunion Parkway project from Bozeman Road to Parkway East in Madison County, Mississippi.

Creates a "2018 Reunion Parkway Fund" within the State Treasury to receive bond proceeds and fund preconstruction, design, engineering, land acquisition, right-of-way acquisition, construction, and development costs.

Bonds may mature up to 25 years from issuance with interest rates not exceeding limits in Section 75-17-101, Mississippi Code of 1972, and no bonds may be issued after July 1, 2022.

Bonds are backed by the full faith and credit of the State of Mississippi; any unexpended funds or investment earnings shall be applied to debt service after the project is completed, abandoned, or cannot be completed in a timely fashion.

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