MS SB3070

Authorizes issuance of up to $2,600,000 in state general obligation bonds to help Perry County, Mississippi pay for widening Cochran Road

Creates the "2022 Perry County Cochran Road Widening Fund" within the State Treasury to hold and disburse bond proceeds, with unexpended amounts and interest earnings remaining in the fund rather than lapsing to the General Fund

Bonds may mature up to 25 years from date of issue, with interest rates subject to limits in Section 75-17-101 of Mississippi Code

State Bond Commission will oversee bond issuance, determine sale method (public sealed bids or negotiated sale), and manage all related processes

No bonds may be issued under this act after July 1, 2026, and bonds are backed by the full faith and credit of Mississippi as general obligations of the state