MS SB3025

Authorizes issuance of state general obligation bonds up to $500,000 to assist the Holmes County Board of Supervisors with road improvement costs for the Ebenezer community.

Creates a special "2021 Ebenezer Road Improvements Fund" within the State Treasury to receive bond proceeds and disburse funds for the road projects under Department of Finance and Administration discretion.

Bonds may be issued at any time until July 1, 2025, with maturity not exceeding 25 years, interest rates compliant with Mississippi law, and terms determined by the State Bond Commission.

Pledges the full faith and credit of Mississippi to repay the bonds; any insufficient appropriated funds for debt service must be paid from the State Treasury.

Remaining funds after project completion are applied to bond debt service; bond income is exempt from Mississippi state taxation and bonds are legal investments for trustees, fiduciaries, and financial institutions.