MS HB151

Authorizes issuance of state general obligation bonds not to exceed $8,000,000 to assist Forrest County, Mississippi with construction costs of a new replacement East Hardy Street bridge over the Leaf River, including right-of-way acquisitions and roadway realignments.

Creates a special fund designated the "2019 East Hardy Street Bridge Replacement Fund" within the State Treasury, maintained separately from the General Fund, with all interest earnings deposited back into the fund.

Grants the State Bond Commission authority to issue, sell, and manage the bonds, determine sale methods, advertise for bids, and prescribe bond terms including maturity dates not to exceed 25 years and interest rates within statutory limits.

Requires bond proceeds to be disbursed by the Department of Finance and Administration solely for the bridge project costs, with any remaining funds after project completion applied to debt service on the bonds.

Establishes the bonds as general obligations of the State of Mississippi backed by full faith and credit, with bonds exempt from state taxation and making them legal investments for trustees, fiduciaries, and financial institutions; bonds cannot be issued after July 1, 2023.