MS SB2793

Authorizes the State Bond Commission to issue up to $10,000,000 in general obligation bonds to assist Hinds County in paying costs for construction and development of the Byram-Clinton Parkway project.

Creates a special fund designated the "2020 Byram-Clinton Parkway Project Construction Fund" within the State Treasury to receive bond proceeds and disburse funds for the project under the discretion of the Department of Finance and Administration.

Bonds may be issued at any time before July 1, 2024, with maturities not to exceed 25 years, and shall bear interest at rates not exceeding limits set forth in Mississippi Code Section 75-17-101.

Bonds are secured by the full faith and credit of the State of Mississippi, with debt service to be paid from state funds if appropriations are insufficient.

Bond proceeds and income from the bonds are exempt from all Mississippi state taxation, and any remaining funds after project completion shall be applied to bond debt service.