MS SB2690

Authorizes issuance of state general obligation bonds not to exceed $1,200,000 to assist Choctaw County Board of Supervisors with costs of bridge repairs on Fentriss Panhandle Road.

Creates a special fund called the "2021 Choctaw County Fentriss Panhandle Bridge Repair Fund" within the State Treasury to receive bond proceeds and disburse funds for the bridge project.

Bonds may be issued at any time up to July 1, 2025, with maturity not to exceed 25 years from date of issue and interest rates subject to Mississippi Code Section 75-17-101.

Bonds are backed by the full faith and credit of the State of Mississippi, and any investment earnings on fund amounts shall be used to pay debt service on the bonds.

Any remaining funds after project completion or abandonment shall be applied to pay debt service on the bonds, and bonds are exempt from Mississippi state taxation.