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MS SB2190
Bill
AI Summary
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Authorizes issuance of state general obligation bonds totaling up to $28,000,000 to fund construction and reconstruction of Mississippi Highway 24 from one mile west of Liberty to Interstate 55 into four lanes (two lanes in each direction).
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Limits bond issuance to $7,000,000 per fiscal year and prohibits any bonds from being issued after July 1, 2026.
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Creates the "Mississippi Highway 24 Improvement Fund" within the State Treasury to receive bond proceeds and disburse funds to the Mississippi Transportation Commission and Department of Transportation for project costs.
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Specifies that any unused funds not spent within four years must be reported to the State Bond Commission, and remaining balances after project completion shall be applied to pay debt service on the bonds.
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Pledges the full faith and credit of the State of Mississippi to pay principal and interest on the bonds, with bond income exempt from state taxation.
Legislative Description
Bonds; authorize general obligation bonds to four lane MS Hwy 24 from Liberty to I-55.
Last Action
Died In Committee
2/21/2018