MS SB3063

Authorizes the issuance of state general obligation bonds up to $5,750,000 to assist the Golden Triangle Regional Airport Authority with airport improvements in Lowndes County, Mississippi.

Creates a special fund called the "2019 Golden Triangle Regional Airport Improvements Fund" within the State Treasury to receive bond proceeds and disburse funds for specific projects including terminal expansion, runway mill/overlay, waterline replacement, ramp mill/overlay, and parking lot additions.

Bonds may be issued through July 1, 2023, with maturity dates not exceeding 25 years from issuance and interest rates compliant with Mississippi Code Section 75-17-101.

Bonds are backed by the full faith and credit of the State of Mississippi, with principal and interest payable from appropriated legislative funds or other available state treasury funds if appropriations are insufficient.

Any remaining fund balance after project completion shall be applied to pay debt service on the bonds, and bond income is exempt from Mississippi state taxation.