MS HB1549

Authorizes issuance of state general obligation bonds up to $100,000 to assist the City of Jackson with construction of sidewalks and related improvements along Raymond Road between Cedarwood Drive and Forest Hill Road.

Creates a special fund called the "2019 City of Jackson Sidewalks Improvements Fund" within the State Treasury to receive bond proceeds and disburse funds for the project.

Bonds cannot be issued after July 1, 2023, and may mature up to 25 years from the date of issue, with interest rates not exceeding limits set in Mississippi Code Section 75-17-101.

Pledges the full faith and credit of the State of Mississippi to pay bond principal and interest; if appropriated funds are insufficient, the State Treasurer must pay any deficiency from unappropriated state funds.

Bonds and their income are exempt from all taxation in Mississippi and are legal investments for trustees, fiduciaries, banks, and insurance companies in the state.