MS SB2919

Authorizes issuance of state general obligation bonds not to exceed $1,450,000 to fund bridge repairs and trail overlay repairs on the Longleaf Trace between Hattiesburg and Prentiss, Mississippi.

Creates a special fund designated the "2020 Longleaf Trace Bridge and Trail Repair Fund" within the State Treasury to receive bond proceeds and disburse funds for project costs.

Bonds may mature up to 25 years from issuance and cannot be issued after July 1, 2024; interest rates subject to state law limits.

Remaining funds after project completion shall be applied to pay debt service on the bonds; investment earnings on the fund shall also be used for debt service.

Bonds are general obligations of the State of Mississippi backed by full faith and credit; bond income is exempt from state taxation.