MS SB2110

Authorizes issuance of up to $170,000 in state general obligation bonds for storm drainage improvements to Oak Street in the Town of Crosby, Mississippi.

Creates a special fund designated "2018 Town of Crosby Storm Drainage Improvements Fund" within the State Treasury to receive bond proceeds and disburse funds for the project.

Allows the State Bond Commission to issue bonds without exceeding a maturity period of 25 years, with interest rates not to exceed the limits in Mississippi Code Section 75-17-101, with no bonds issued after July 1, 2022.

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

Declares bond proceeds and income from the bonds exempt from Mississippi taxation, and specifies that remaining funds after project completion shall be applied to debt service on the bonds.