MS SB3137

Authorizes the issuance of state general obligation bonds totaling up to $1,950,000 to assist the Humphreys County Board of Supervisors in paying costs for construction of a bridge over Wolf Lake.

Creates the "2022 Humphreys County Wolf Lake Bridge Construction Fund" within the State Treasury to receive bond proceeds and disburse funds for the bridge project.

Establishes that bonds may mature up to 25 years from issuance at interest rates not exceeding limits set in Section 75-17-101, Mississippi Code of 1972, and are backed by the full faith and credit of the State of Mississippi.

Allows the State Bond Commission to issue bonds at any time until July 1, 2026, with investment earnings on fund amounts used to pay debt service on the bonds.

Specifies that unexpended amounts remaining in the fund do not lapse into the General Fund, and once the project is completed or abandoned, remaining funds shall be applied to pay bond debt service.