MS SB2711

Authorizes the State Bond Commission to issue up to $25,000,000 in general obligation bonds to assist Hinds County with construction and development costs of the Hinds Parkway Road Project.

Creates a special fund called the "2021 Hinds Parkway Road Project Fund" within the State Treasury to receive bond proceeds and disburse funds for the project under Department of Finance and Administration discretion.

Bonds may be issued at any time or from time to time, but no bonds shall be issued after July 1, 2025, with a maximum maturity of 25 years from date of issue.

Bonds are general obligations of the State of Mississippi backed by the full faith and credit of the state; remaining funds after project completion shall be applied to debt service on the bonds.

Bond income is exempt from all Mississippi taxation, and any remaining funds in the special fund shall not lapse into the General Fund but shall accrue interest that is also deposited into the fund.