MS SB3039

Authorizes issuance of up to $1,000,000 in state general obligation bonds by the Mississippi Transportation Commission for improvements to the intersection of Mississippi Highway 145 (Rockabilly Way) and Mississippi Highway 348 in Lee County.

Improvements funded by bonds shall include conversion of the intersection into a roundabout, lighting, beautification, and other necessary improvements.

Creates a special "Rockabilly Way and Mississippi Highway 348 Intersection Improvement Fund" within the State Treasury to receive bond proceeds and manage expenditures under direction of the Mississippi Transportation Commission.

Bonds may not be issued after July 1, 2022, and shall mature within 25 years from date of issue, with interest rates not exceeding limits set in Mississippi Code Section 75-17-101.

Bonds are general obligations of the State of Mississippi backed by full faith and credit of the state, with income from bonds exempt from state taxation.