MS SB3021

Authorizes the State Bond Commission to issue up to $7,000,000 in general obligation bonds to fund construction of a Multiuser Aero Strip at Stennis Airport in Hancock County, Mississippi.

Creates the "2020 Stennis Airport Multiuser Aero Strip Construction Fund" as a separate special fund in the State Treasury to receive and disburse bond proceeds for the airport project.

Bonds may be issued at any time before July 1, 2024, with a maturity period not to exceed 25 years and interest rates complying with Mississippi Code Section 75-17-101.

Bonds are backed by the full faith and credit of the State of Mississippi; if appropriated funds are insufficient, the State Treasurer must pay deficiencies from other state funds.

Bonds and income from bonds are exempt from all state taxation and may serve as legal investments for trustees, fiduciaries, banks, and insurance companies in Mississippi.