MS SB2850

Authorizes issuance of state general obligation bonds not to exceed $150,000 to assist Monroe County Board of Supervisors with paving a three-mile gravel road providing access to boat ramps and piers on the Tennessee-Tombigbee Waterway in Hamilton, Mississippi.

Creates a special "2019 Tennessee-Tombigbee Waterway Access Fund" within the State Treasury to receive bond proceeds and any interest earnings, with funds disbursed at the discretion of the Department of Finance and Administration.

Permits the State Bond Commission to issue bonds with maturity up to 25 years, at interest rates not exceeding statutory limits, with sales authorized by sealed bid at public auction or by negotiated sale; bonds must be issued by July 1, 2023.

Pledges the full faith and credit of the State of Mississippi to guarantee bond payments, with any shortfall covered by the State Treasurer from general treasury funds.

Declares bonds and interest income exempt from all Mississippi state taxation and establishes them as legal investments for trustees, fiduciaries, banks, and insurance companies in the state.