MS HB1598

Authorizes issuance of up to $1,500,000 in state general obligation bonds to fund the extension of Rice Road in Ridgeland from U.S. Highway 51 to Ridgeland City Center.

Creates a special fund designated "2019 City of Ridgeland-Rice Road Fund" within the State Treasury to receive bond proceeds and disburse funds for the project.

Bonds may not be issued after July 1, 2023, and shall mature no later than 25 years from date of issue.

Pledges the full faith and credit of the State of Mississippi to guarantee payment of principal and interest on the bonds.

Income from bonds is exempt from all taxation in Mississippi, and bonds are legal investments for trustees, fiduciaries, banks, and insurance companies.