MS SB2967

Authorizes issuance of state general obligation bonds up to $4,600,000 to assist the City of Ridgeland in paying costs for extending Lake Harbour Drive from U.S. Highway 51 to Highland Colony Parkway.

Creates a special fund called the "2019 City of Ridgeland Lake Harbour Drive Extension Fund" within the State Treasury to receive bond proceeds and disburse funds for the project.

Bonds may be issued at one time or over time, with maturity not to exceed 25 years from date of issue, and no bonds may be issued after July 1, 2023.

Full faith and credit of the State of Mississippi is pledged to back the bonds; if legislative appropriations are insufficient, the State Treasurer must pay any deficiency from unappropriated state funds.

Bonds are exempt from Mississippi state taxation and may be used for project costs and costs incident to bond issuance and sale.