MS SB2899

Authorizes the State Bond Commission to issue up to $4,000,000 in state general obligation bonds to assist the City of Pearl with bridge construction extending from the intersection of Ware Street extension and relocated St. Augustine Drive to Pearson Road.

Limits bond issuance to no more than $2,000,000 per fiscal year, with all bonds to be issued by July 1, 2025.

Creates a special fund called the "2021 City of Pearl Bridge Construction Fund" within the State Treasury to receive bond proceeds and disburse funds for bridge construction costs.

Bonds may mature up to 25 years from date of issue, with interest rates not exceeding limits set in Mississippi Code Section 75-17-101; unused construction funds shall be applied to debt service on the bonds.

Pledges the full faith and credit of the State of Mississippi for bond repayment, and exempts bonds and income from state taxation.