MS HB1659

Authorizes issuance of up to $5,000,000 in state general obligation bonds for the Reunion Parkway project in Madison County, Mississippi, from Bozeman Road to Parkway East.

Bonds may be used to fund preconstruction, design, engineering, land acquisition, right-of-way acquisition, construction, and development costs for the parkway project.

Creates a special "2020 Reunion Parkway Fund" within the State Treasury to receive bond proceeds and investment earnings, which shall not lapse into the General Fund.

Bonds must be issued by July 1, 2024, with a maturity period not to exceed 25 years from date of issue; interest rates cannot exceed limits set by Mississippi Code Section 75-17-101.

Bonds are backed by the full faith and credit of Mississippi; income from bonds is exempt from state taxation, and any bond holders may enforce rights through legal action to compel payment.