MS SB2924

Authorizes the State Bond Commission to issue up to $5,000,000 in general obligation bonds to assist Madison County Board of Supervisors with costs of completing the Bozeman Road Project from Reunion Parkway to Gluckstadt Road.

Establishes a special fund designated as the "2022 Madison County Bozeman Road Project Fund" within the State Treasury to receive bond proceeds and disburse funds for the road project costs.

Bonds shall be general obligations of the State of Mississippi with full faith and credit pledged for repayment; interest rates cannot exceed limits set in Section 75-17-101, Mississippi Code of 1972, and bonds shall mature within 25 years.

Bond proceeds and investment earnings are exempt from state taxation; any remaining funds after project completion or abandonment shall be applied to pay debt service on the issued bonds.

No bonds may be issued under this authority after July 1, 2026.