MS SB3077

Authorizes issuance of up to $2,510,000 in state general obligation bonds to help the City of Pearl, Mississippi construct a bridge from the intersection of Ware Street extension and relocated St. Augustine Street to Pearson Road

Creates the "2022 City of Pearl Bridge Construction Fund" as a special fund within the State Treasury to hold bond proceeds, with unexpended amounts and investment earnings remaining in the fund rather than lapsing to the General Fund

Bonds may mature up to 25 years from date of issue and are backed by the full faith and credit of the State of Mississippi

Bonds and income from them are exempt from all Mississippi state taxation and qualify as legal investments for trustees, fiduciaries, savings banks, trust companies, and insurance companies

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