MS SB2255

Authorizes issuance of up to $25,000,000 in state general obligation bonds to assist Hinds County with construction and development costs of the Hinds Parkway Road project.

Creates a special "2020 Hinds Parkway Road Project Fund" within the State Treasury to receive bond proceeds, with funds disbursed by the Department of Finance and Administration for project costs.

Bonds may be issued at any time until July 1, 2024, with a maximum maturity of 25 years and interest rates subject to statutory limits, sold through public sealed bids or negotiation.

Pledges the full faith and credit of the State of Mississippi to guarantee bond repayment, with any shortfall in appropriated funds to be paid by the State Treasurer from general treasury funds.

Bonds and income are exempt from state taxation and may be legally held as investments by trustees, fiduciaries, banks, and insurance companies; unused project funds must be applied to bond debt service after project completion.