MS HB37

Authorizes issuance of state general obligation bonds up to $2,000,000 to assist the City of Pearl, Mississippi with construction costs for a bridge extending from the intersection of Ware Street extension and relocated St. Augustine Street to Pearson Road.

Creates a special fund designated the "2022 City of Pearl Bridge Construction Fund" within the State Treasury to receive bond proceeds and disburse funds for the bridge project under the Department of Finance and Administration's discretion.

Authorizes the State Bond Commission to determine bond terms including denomination, interest rates (not exceeding Section 75-17-101 limits), maturity (not exceeding 25 years), and sale method, with all bonds to be signed by the commission chairman and sealed with the commission's official seal.

Establishes that bonds issued are general obligations of the State of Mississippi backed by the state's full faith and credit, with any deficiencies paid by the State Treasurer from unappropriated funds; bonds are tax-exempt and legal investments for state fiduciaries.

Prohibits bond issuance after July 1, 2026; requires any remaining funds after project completion to be applied to debt service on the issued bonds.