MS SB3074

Authorizes the State Bond Commission to issue up to $500,000 in general obligation bonds to assist Clay County Board of Supervisors with road paving and bridge repairs in Supervisor District 4.

Creates a special fund designated as the "2022 Clay County Supervisor District 4 Road and Bridge Improvements Fund" to receive bond proceeds and disburse them for the authorized projects.

Bonds may be issued at any time or in installments but cannot be issued after July 1, 2026, with maturity not exceeding 25 years from date of issue.

Bonds are backed by the full faith and credit of the State of Mississippi, with principal and interest payable from appropriated funds or the State Treasury if appropriations are insufficient.

Interest earnings and any unexpended amounts remaining after project completion shall be applied to debt service on the bonds.