MS SB2445

Authorizes issuance of up to $10,000,000 in state general obligation bonds to fund upgrades to the Kansas City Southern Rail Line south of Meridian, Mississippi

Creates the "2021 Kansas City Southern Rail Line Upgrade Fund" within the State Treasury to hold and disburse bond proceeds for the rail project

Bonds may mature up to 25 years from date of issue and must be issued before July 1, 2025

Pledges the full faith and credit of the State of Mississippi for repayment of the bonds, with the State Treasurer authorized to pay any deficiency from unappropriated funds

Bonds and income from them are exempt from all state taxation and qualify as legal investments for trustees, fiduciaries, savings banks, trust companies, and insurance companies