MS HB507

Authorizes issuance of up to $4 million in state general obligation bonds to help the City of Pearl construct a bridge from the intersection of Ware Street extension and relocated St. Augustine Street to Pearson Road

Limits bond issuance to no more than $2 million per fiscal year, with all bonds to be issued by July 1, 2025

Creates the "2021 City of Pearl Bridge Construction Fund" as a special fund within the State Treasury to hold and disburse bond proceeds for the bridge project

Bonds may mature up to 25 years from date of issue, with interest payable semiannually or annually, and are backed by the full faith and credit of Mississippi

Bond proceeds and income are exempt from all state taxation and qualify as legal investments for trustees, fiduciaries, and insurance companies