MS SB2417

Authorizes issuance of general obligation bonds not to exceed $6,200,000 to fund improvements to Broadway Street (Deaton Street to Magnolia Street) and Reed Road (Canal No. 9 to Raceway Road) in Greenville, Mississippi.

Creates a special fund designated "2019 City of Greenville-Broadway Street and Reed Road Improvements Fund" within the State Treasury to receive bond proceeds and disburse them for street repair, rehabilitation, resurfacing, construction, and reconstruction.

Grants the State Bond Commission authority to determine bond terms including interest rates (subject to state limits), maturity dates (up to 25 years), redemption options, and sale methods; bonds must be issued by July 1, 2023.

Pledges the full faith and credit of the State of Mississippi to pay principal and interest on the bonds; bonds are general obligations exempt from state taxation and qualify as legal investments for fiduciaries and financial institutions.

Directs remaining fund balances after project completion to be applied to bond debt service, and authorizes use of investment earnings on fund deposits to pay debt service.