MS SB2949

Authorizes issuance of state general obligation bonds up to $10,193,500 to assist Jackson Municipal Airport Authority with planning, design, and infrastructure construction for Jackson Metro Aeroplex Infrastructure Development Project, including access roads and utilities.

Creates special fund designated "2019 Jackson Municipal Airport Authority Jackson Metro Aeroplex Infrastructure Development Project Fund" within State Treasury to receive bond proceeds and disburse funds under Department of Finance and Administration discretion.

Bonds may not be issued after July 1, 2023, and may mature up to 25 years from issuance with interest rates not exceeding limits in Mississippi Code Section 75-17-101.

Remaining funds in special account after project completion shall be applied to pay debt service on bonds; investment earnings on fund deposits shall also be used for debt service.

Full faith and credit of State of Mississippi is pledged for bond payment; bonds are legal investments for trustees, fiduciaries, and financial institutions, and are exempt from state taxation.