MS HB533

Authorizes the State Bond Commission to issue up to $2,000,000 in general obligation bonds to fund road and street improvements near Jackson State University campus in Jackson, Mississippi.

Creates a special fund called the "2018 City of Jackson Road and Street Improvements Fund" within the State Treasury to receive bond proceeds and disburse funds for repair, rehabilitation, resurfacing, construction and reconstruction of roads and streets near the university.

Bonds may have a maturity of up to 25 years from date of issue with interest rates not to exceed limits in Mississippi Code Section 75-17-101, with no bonds issued after July 1, 2022.

Bonds are general obligations of the State of Mississippi backed by the full faith and credit of the state; income from the bonds is exempt from all state taxation.

Any remaining funds after project completion shall be applied to pay debt service on the bonds, and investment earnings on the special fund shall be used for bond debt service.