MS SB2035

Amends Section 6, Chapter 472, Laws of 2015, to allow the City of Taylorsville to use excess bond proceeds for road projects within the city if funds are not needed for the original projects (Fellowship Water Supply improvements and Georgia Pacific Chip Mill Access Road improvements).

Maintains the existing "2015 City of Taylorsville Water Supply and Georgia Pacific Chip Mill Access Road Improvements Fund" as a special fund within the State Treasury with unexpended amounts not lapsing into the General Fund.

Authorizes up to $1,000,000 in general obligation bonds of Mississippi to be issued by the State Bond Commission, with issuance deadline of July 1, 2019 and maturity not exceeding 25 years.

Bonds are backed by the full faith and credit of the State of Mississippi and are exempt from state taxation; proceeds are used solely for the specified projects and related issuance costs.

Provides that investment earnings on deposited amounts shall be used to pay debt service on the bonds issued under this authorization.