MS SB2208

Authorizes issuance of up to $5,500,000 in state general obligation bonds to fund construction and improvement of local roads and highways in Tunica County used primarily by casino customers.

Creates the "2022 Tunica County Roads Improvements Fund" as a separate special fund within the State Treasury to receive and disburse bond proceeds for project costs.

Bonds may not be issued after July 1, 2026, with maturity dates not exceeding 25 years from issuance and interest rates subject to Mississippi Code Section 75-17-101 limits.

Full faith and credit of the State of Mississippi is pledged to pay principal and interest on bonds, with any shortfall covered by the State Treasurer from general treasury funds.

Unused bond proceeds remaining after project completion shall be applied to debt service on the bonds; investment earnings on the fund shall also be used for debt service.