MS SB2324

Authorizes issuance of up to $10,000,000 in state general obligation bonds to assist Hinds County, Mississippi with construction and development costs of the Byram-Clinton Parkway project.

Creates a special "2018 Byram-Clinton Parkway Project Construction Fund" within the State Treasury, maintained separately from the General Fund, with unexpended amounts and interest earnings retained in the fund.

Bonds may be issued by the State Bond Commission at any time before July 1, 2021, with maturity dates not to exceed 25 years from issue date and interest rates subject to Mississippi Code limits.

Bonds are general obligations of Mississippi with full faith and credit pledge; principal and interest payable from appropriated funds or from State Treasury funds if appropriations are insufficient.

Bonds are exempt from Mississippi taxation and constitute legal investments for trustees, fiduciaries, banks, trust companies, and insurance companies organized under state law.