MS SB3024

Authorizes issuance of up to $500,000 in state general obligation bonds to fund road improvements in the Town of Tchula, Mississippi

Creates the "2021 Town of Tchula Road Improvements Fund" within the State Treasury to hold bond proceeds, with the Department of Finance and Administration overseeing disbursements

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

Bonds are backed by the full faith and credit of the State of Mississippi, with the state obligated to cover any payment deficiencies from general treasury funds

Bond income is exempt from all Mississippi state taxation, and bonds qualify as legal investments for trustees, fiduciaries, and financial institutions