MS SB2945

Authorizes the State Bond Commission to issue up to $8,000,000 in general obligation bonds to assist the City of Oxford, Mississippi, with reconstruction costs at the intersection of Mississippi Highway 7 and University Drive.

Creates the "2019 Oxford Intersection Reconstruction Fund" as a special fund within the State Treasury to receive bond proceeds and disburse funds for the intersection project, including roundabout installation and reconfiguration of driveways and traffic signals.

Sets a deadline of July 1, 2023, for issuance of bonds and authorizes bond maturities of up to 25 years from the date of issue.

Pledges the full faith and credit of the State of Mississippi to guarantee payment of principal and interest on the bonds, with any deficiency to be paid from the State Treasury.

Exempts bonds and their income from all state taxation and authorizes the State Treasurer to certify and the Department of Finance and Administration to issue warrants for timely payment of debt service on the bonds.