MS SB3020

Authorizes issuance of up to $500,000 in state general obligation bonds to assist the City of Durant, Mississippi, with city road improvement costs

Creates the "2021 City of Durant Road Improvements Fund" within the State Treasury to hold and disburse bond proceeds, with funds remaining separate from the General Fund

Bonds must be issued by July 1, 2025 and mature within 25 years from date of issue

Full faith and credit of the State of Mississippi is pledged for bond repayment, with the State Treasurer authorized to cover any deficiency from State Treasury funds

Bonds and income from bonds are exempt from all Mississippi state taxation and qualify as legal investments for trustees, fiduciaries, savings banks, trust companies, and insurance companies