MS SB3086

Authorizes issuance of up to $35,000,000 in state general obligation bonds to help the City of Flowood, Mississippi pay costs of extending Lakeland Drive to Mississippi Highway 471

Creates the "2022 City of Flowood Lakeland Drive Extension Fund" within the State Treasury to hold and disburse bond proceeds for the road extension project

Bonds may mature up to 25 years from date of issue, with interest payable semiannually or annually, and are exempt from all Mississippi state taxation

State Bond Commission will oversee bond issuance, sale method, and administration; bonds are backed by the full faith and credit of the State of Mississippi

No bonds may be issued under this act after July 1, 2026; remaining funds after project completion will be applied to bond debt service