MS SB2698

Authorizes the issuance of up to $1,000,000 in state general obligation bonds to assist the Town of Wesson, Mississippi with road and bridge repair costs.

Creates a special fund designated the "2021 Town of Wesson Road and Bridge Repair Fund" within the State Treasury to receive and disburse bond proceeds for eligible projects.

Grants the State Bond Commission authority to issue, sell, and manage the bonds, with interest rates not exceeding limits set by Mississippi Code Section 75-17-101 and maturity dates not to exceed 25 years.

Requires any remaining funds after project completion to be applied toward debt service on the bonds, and directs all investment earnings on the fund to be used for bond payment obligations.

Establishes that bonds are general obligations of Mississippi backed by the full faith and credit of the state, are exempt from state taxation, and cannot be issued after July 1, 2025.