MS SB2987

Authorizes the issuance of state general obligation bonds not exceeding $1,500,000 to assist the City of Columbus, Mississippi with costs of the Bluecutt Road Widening Project.

Creates a special fund called the "2021 Columbus Bluecutt Road Widening Project Fund" within the State Treasury, with unexpended amounts and investment earnings remaining in the fund rather than reverting to the General Fund.

Bonds may be issued at any time until July 1, 2025, with a maturity not exceeding 25 years from the date of issue, and interest rates subject to Mississippi Code Section 75-17-101 limits.

Pledges the full faith and credit of the State of Mississippi to guarantee bond payments; if appropriated funds are insufficient, the State Treasurer must pay deficiencies from other available state funds.

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