MS SB2095

Authorizes issuance of state general obligation bonds up to $500,000 to assist Como, Mississippi in repaying State Highway 310.

Creates a special fund designated "2020 Como, Mississippi, Highway 310 Repaving Fund" within the State Treasury to receive and disburse bond proceeds for the highway project.

Bonds may not be issued after July 1, 2024, and may mature up to 25 years from the date of issue with interest rates not to exceed limits set in Mississippi Code Section 75-17-101.

Bonds are backed by the full faith and credit of the State of Mississippi, with principal and interest paid from state funds if appropriations prove insufficient.

Bond proceeds and income from the bonds are exempt from all taxation in Mississippi, and bonds are legal investments for trustees, fiduciaries, banks, and insurance companies.