MS HB1702

Authorizes issuance of state general obligation bonds not to exceed $2,699,300.00 to fund road and bridge improvements in Perry County, Mississippi, with no bonds to be issued after July 1, 2023.

Creates a "2019 Perry County Road and Bridge Improvements Fund" within the State Treasury to receive bond proceeds and disburse funds for five specific projects: Leonard Clark Road ($600,500), Tower Road ($490,000), Clay Hill Road ($475,000), Forest Lake and Lake Perry Roads ($550,800), and Ellis Odom Road bridge ($583,000).

Vests the State Bond Commission with authority to issue bonds, determine sale method, advertise for bids, and manage all aspects of bond issuance and delivery.

Pledges the full faith and credit of the State of Mississippi to repay bonds; if state appropriations are insufficient, any deficiency shall be paid from the State Treasury.

Bonds are exempt from Mississippi state taxation and may be used as legal investments for trustees, fiduciaries, banks, and insurance companies.