MS SB2794

Authorizes the State Bond Commission to issue up to $10,193,500 in general obligation bonds to assist the Jackson Municipal Airport Authority with the Jackson Metro Aeroplex Infrastructure Development Project.

Bonds may be used for planning, design, and infrastructure construction including access roads, water, sewer, natural gas, and electrical services for the aeroplex project.

Creates a special fund within the State Treasury designated the "2020 Jackson Municipal Airport Authority Jackson Metro Aeroplex Infrastructure Development Project Fund" to receive and disburse bond proceeds.

Bonds shall mature within 25 years from date of issue, bear interest at rates compliant with state law, and may be redeemed before maturity at the state's option; no bonds may be issued after July 1, 2024.

Bonds are general obligations of the State of Mississippi backed by the full faith and credit of the state; bond income is exempt from state taxation and bonds are legal investments for state fiduciaries and financial institutions.