MS SB2981

Authorizes the issuance of state general obligation bonds up to $1,000,000 to assist the City of West Point, Mississippi with costs of paving city roads.

Creates a special fund called the "2021 City of West Point Road Paving Fund" within the State Treasury to receive bond proceeds and disburse funds for road paving projects.

Bonds may be issued at any time until July 1, 2025, with a maturity period not to exceed 25 years and interest rates within statutory limits.

The State Bond Commission acts as issuing agent and has authority to prescribe bond form, determine sale method, advertise bids, and issue/sell bonds.

Bonds are general obligations of the State of Mississippi backed by full faith and credit, with bond income exempt from state taxation and any remaining funds after project completion applied to debt service.