MS SB3007

Authorizes issuance of state general obligation bonds not to exceed $934,355.00 to assist Jasper County with leveling, asphalt, and shoulder work on six county roads (Roads 812, 2337, 52814, 14, 35, and 37).

Creates the "2020 Jasper County Road Improvement Fund" as a separate state treasury fund to receive bond proceeds and disburse funds for the specified road projects.

Grants the State Bond Commission authority to issue and sell bonds, determine sale method, prescribe bond terms, and manage all issuance procedures; bonds may not be issued after July 1, 2024.

Bonds are general obligations of Mississippi with full faith and credit pledging; principal and interest mature within 25 years and are exempt from state taxation.

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