MS HB1647

Authorizes issuance of state general obligation bonds up to $10,000,000 to fund the realignment of U.S. Highway 51 and Main Street - Roundabout Project (Department of Transportation Project Number SPR-1(102)).

Limits bond issuance to no more than $5,000,000 per fiscal year, with all bonds to be issued by July 1, 2022.

Creates a special fund designated the "2018 Realignment of U.S. Highway 51 and Main Street - Roundabout Project Fund" within the State Treasury to receive and disburse bond proceeds for project costs.

Pledges the full faith and credit of the State of Mississippi to repay bonds, with any shortfall paid by the State Treasurer from the General Treasury.

Bonds are exempt from state taxation and designated as legal investments for fiduciaries, banks, and insurance companies; takes effect July 1, 2018.