MS SB3054

Authorizes issuance of state general obligation bonds totaling $13,193,500 to assist the Jackson Municipal Airport Authority with improvements at two airports.

Creates the "2018 Jackson Municipal Airport Authority Hawkins Field Airport Improvements Fund" with $3,000,000 allocated for terminal building preservation, renovation, entrance relocation, and property acquisition near Hawkins Field Airport.

Creates the "2018 Jackson Municipal Airport Authority Jackson-Medgar Wiley Evers International Airport Infrastructure Improvements Fund" with $10,193,500 allocated for access road construction connecting to East Metro Parkway and development of sewer, water, natural gas, and electrical infrastructure.

Bonds mature within 25 years from issuance date and cannot be issued after July 1, 2022; principal and interest are backed by the full faith and credit of the State of Mississippi.

Bond proceeds are exempt from state taxation and authorized for use solely for specified airport improvement projects, with remaining funds after project completion applied to debt service on the bonds.