MS SB3073

Authorizes issuance of state general obligation bonds up to $1,500,000 to assist the City of West Point, Mississippi with street paving costs.

Bonds may not be issued after July 1, 2026, and shall not exceed 25 years to maturity with interest rates complying with Mississippi Code Section 75-17-101.

Creates a special "2022 City of West Point Street Paving Fund" within the State Treasury to receive bond proceeds and disburse funds for street paving projects.

State Treasurer shall pay principal and interest on bonds from state warrants when due, with full faith and credit of the State of Mississippi pledged to guarantee payment.

Bond income is exempt from Mississippi state taxation, and remaining funds after project completion shall be applied to pay debt service on the issued bonds.