MS SB2106

Authorizes issuance of up to $1,200,000 in state general obligation bonds to fund improvements to Barringer Road in Marshall County to assist traffic flow to and from the Chickasaw Trail Industrial Park.

Creates a special fund called the "2020 Barringer Road Improvement Fund" within the State Treasury to receive bond proceeds and disburse funds under direction of the Department of Finance and Administration.

Bonds may mature up to 25 years from issuance date with interest rates not exceeding limits set in Mississippi Code Section 75-17-101, and no bonds may be issued after July 1, 2024.

Pledges the full faith and credit of the State of Mississippi for bond repayment; if legislative appropriations are insufficient, the State Treasurer shall pay any deficiency from unappropriated state funds.

Remaining fund balances after project completion or abandonment shall be applied to pay debt service on the bonds; bonds and income are exempt from Mississippi state taxation.