MS SB2137

Authorizes issuance of up to $8,100,000 in state general obligation bonds for widening Mississippi Highway 16 to three lanes in Kemper County, with two specific project segments identified.

Creates the "Mississippi Highway 16 Improvement Fund" as a special state treasury fund to receive bond proceeds and pay costs for the highway widening projects.

Bonds cannot be issued after July 1, 2022, and must mature within 25 years from issuance date.

Unused funds remaining four years after bond proceeds are deposited must be reported to the State Bond Commission; if projects are completed, abandoned, or cannot be completed timely, remaining funds shall be applied to bond debt service.

Bonds are general obligations of the State of Mississippi backed by full faith and credit, are tax-exempt, and qualify as legal investments for trustees and fiduciaries.