MS SB2966

Authorizes issuance of state general obligation bonds not to exceed $2,500,000 to assist Lawrence County Board of Supervisors with pavement maintenance costs for the N.A. Sandifer Highway.

Creates a special fund designated "2021 Lawrence County N.A. Sandifer Highway Fund" within the State Treasury to be maintained separately from the General Fund, with unexpended amounts not lapsing at fiscal year end.

Bonds may be issued anytime before July 1, 2025, with maturity dates not exceeding 25 years, and may be redeemed before maturity at terms determined by the State Bond Commission.

Pledges the full faith and credit of Mississippi to pay bonds; any deficiency in appropriated funds shall be paid by the State Treasurer from other available state funds.

Bonds and income therefrom are exempt from Mississippi state taxation and constitute legal investments for trustees, fiduciaries, banks, and insurance companies.