MS HB1768

Authorizes the issuance of state general obligation bonds up to $1,900,000 to fund improvements to the Sela Ward Parkway in Meridian, Mississippi, with no bonds to be issued after July 1, 2024.

Creates a special "Sela Ward Parkway Streetscape Project Fund" to pay for roadway overlay, wider sidewalks, curb relocation, new traffic signals, and updated traffic signal software.

Bonds mature within 25 years, are subject to interest rate limits in Mississippi Code Section 75-17-101, and may be redeemable before maturity at the State Bond Commission's discretion.

Full faith and credit of the State of Mississippi is pledged to back the bonds; any insufficient appropriations must be covered by the State Treasurer from unappropriated state funds.

Bonds are exempt from state taxation, are legal investments for fiduciaries and financial institutions, and proceeds may only be used for the specified parkway improvements and bond issuance costs.