MS SB2986

Authorizes issuance of up to $1,150,000 in state general obligation bonds to assist the City of Columbus, Mississippi, with Fifth Street improvement costs

Creates the "2021 Columbus Fifth Street Improvements Fund" within the State Treasury to hold bond proceeds, with funds remaining separate from the General Fund and not lapsing at fiscal year end

Bonds must be issued by July 1, 2025 and mature within 25 years from date of issue, with interest payable semiannually or annually

Bonds are backed by the full faith and credit of the State of Mississippi, and both bonds and income from them are exempt from all state taxation

Department of Finance and Administration has discretion over disbursement of funds; any remaining amounts after project completion or abandonment will be applied to bond debt service