MS HB1234

Authorizes issuance of up to $133,000 in state general obligation bonds to fund repair, reconstruction, upgrades, and other improvements to Spring Street in the Town of Fayette, Mississippi

Creates the "2021 Town of Fayette-Spring Street Improvements Fund" within the State Treasury to hold bond proceeds, with funds disbursed at the discretion of the Department of Finance and Administration

Bonds may be issued at any time before July 1, 2025, with a maximum maturity of 25 years from the date of issue

Bonds are backed by the full faith and credit of the State of Mississippi, and both the bonds and income from them are exempt from all state taxation

Any remaining funds after project completion or abandonment must be applied to debt service on the bonds