MS SB3023

Authorizes issuance of state general obligation bonds up to $9,700,000 to assist the City of D'Iberville with roadway improvements, including construction of a four-lane boulevard from Lamey Bridge Road to Jackson County line connecting to Cook Road Corridor, plus safety, drainage, aesthetic and recreational improvements.

Creates a special fund called the "2020 City of D'Iberville Roadway Improvements Fund" within the State Treasury to receive bond proceeds and disburse funds for the specified projects under Department of Finance and Administration discretion.

Bonds may not be issued after July 1, 2024, and have a maximum maturity of 25 years with interest rates subject to statutory limits.

Pledges the full faith and credit of the State of Mississippi to pay principal and interest on the bonds, with any deficiency to be paid from the State Treasury.

Specifies that bond proceeds are exempt from state taxation and may be used only for the authorized roadway projects and costs incident to bond issuance and sale.