MS SB3031

Authorizes issuance of up to $5,000,000 in state general obligation bonds to fund street repairs in the City of Canton, Mississippi

Creates the "2021 City of Canton Street Repair Fund" within the State Treasury to hold bond proceeds, with funds disbursed at the discretion of the Department of Finance and Administration

Bonds may mature up to 25 years from date of issue and must be issued before July 1, 2025

Bonds are backed by the full faith and credit of the State of Mississippi, with interest and principal exempt from all state taxation

Any remaining funds after project completion or abandonment must be applied to debt service on the bonds