MS SB3101

Authorizes issuance of state general obligation bonds not to exceed $1,000,000 to assist Attala County Board of Supervisors with road improvement costs in Supervisor District 2.

Creates a special fund designated "2022 Attala County Supervisor District 2 Road Improvements Fund" within the State Treasury to receive bond proceeds and disburse funds for specified road projects.

Bonds may be issued at any time until July 1, 2026, with maturity not exceeding 25 years from date of issue and interest rates subject to Mississippi Code Section 75-17-101.

Full faith and credit of the State of Mississippi is pledged to pay bond principal and interest; any deficiency shall be paid from the State Treasury.

Bonds are exempt from state taxation and any remaining fund balance after project completion shall be applied to debt service on the issued bonds.