MS HB481

Authorizes issuance of up to $1,000,000 in state general obligation bonds to fund engineering and design costs for the East Mississippi Intermodal Rail Corridor

Creates the "2021 Rail Authority of East Mississippi Fund" within the State Treasury, with funds disbursed at the discretion of the Mississippi Development Authority

Bonds may not be issued after July 1, 2025, and must mature within 25 years from the date of issue

Bonds are backed by the full faith and credit of the State of Mississippi, with bond income exempt from all state taxation

State Bond Commission has authority to determine bond terms, sale methods, and handle all aspects of bond issuance and sale