MS HB938

Authorizes the State Bond Commission to issue up to $2,900,000 in general obligation bonds to assist Lafayette County with extending West Oxford Loop and replacing Bridge Number 18 in Lafayette County.

Requires proof that private, local, and/or federal sources have irrevocably dedicated funds equal to the bond amount before any bonds can be issued.

Creates a special "2021 West Oxford Loop and Bridge Number 18 Fund" within the State Treasury to receive bond proceeds, with funds disbursed by the Department of Finance and Administration for the specified projects.

Bonds may mature up to 25 years from issue date and cannot be issued after July 1, 2025; bonds are general obligations of the State of Mississippi backed by its full faith and credit.

Any remaining funds after project completion shall be applied to pay debt service on the bonds, and all bond income is exempt from Mississippi state taxation.