MS SB2693

Authorizes the State Bond Commission to issue up to $500,000 in general obligation bonds to assist Lawrence County's Board of Supervisors with road and bridge repair costs.

Creates a special "2021 Lawrence County Road and Bridge Repair Fund" within the State Treasury to receive bond proceeds and disburse funds for the specified road and bridge projects.

Bonds may not be issued after July 1, 2025, and shall mature no later than 25 years from the date of issue with interest rates not exceeding limits in Mississippi Code Section 75-17-101.

Any remaining funds in the special fund after projects are completed shall be applied to pay debt service on the issued bonds.

Bonds are backed by the full faith and credit of the State of Mississippi, are exempt from state taxation, and constitute legal investments for trustees, fiduciaries, and financial institutions.