MS HB936

Authorizes issuance of up to $1,200,000 in state general obligation bonds to fund Barringer Road improvements in Marshall County to improve traffic flow to/from Chickasaw Trail Industrial Park.

Creates the "2021 Barringer Road Improvement Fund" within the State Treasury to receive and disburse bond proceeds for the specified road improvements.

Bonds may be issued until July 1, 2025, with maturity not exceeding 25 years, at interest rates compliant with Mississippi Code Section 75-17-101.

Remaining funds after project completion or abandonment shall be applied to pay debt service on the bonds; all bond proceeds are backed by the full faith and credit of the State of Mississippi.

State Bond Commission acts as issuing agent with authority to determine bond terms, advertise and accept bids, and execute the sale; bonds are exempt from Mississippi state taxation.