MS HB1459

Authorizes issuance of up to $300,000,000 in state general obligation bonds to assist counties with costs of repairing, maintaining, and reconstructing roads, streets, and bridges.

Creates the "2021 Counties Road and Bridge Improvements Fund" within the State Treasury to receive bond proceeds and disburse funds equally to all counties.

Bonds may be issued anytime before July 1, 2025, with maturity dates not exceeding 25 years from issuance and interest rates subject to Section 75-17-101 limits.

State Bond Commission acts as issuing agent with authority to determine sale method, advertise for bids, and manage bond issuance and delivery, with costs paid from bond proceeds.

Bonds are general obligations backed by the full faith and credit of Mississippi; remaining fund balances after project completion shall be applied to bond debt service, and bond income is exempt from state taxation.