MS SB3138

Authorizes issuance of up to $1,000,000 in state general obligation bonds to assist the City of Cleveland, Mississippi, with extending Airport Terminal Road at the Cleveland Municipal Airport

Creates the "2022 Cleveland Airport Terminal Road Extension Fund" within the State Treasury to hold bond proceeds, with funds remaining separate from the General Fund and not lapsing at fiscal year end

Bonds must be issued by July 1, 2026 and mature within 25 years from the date of issue

Bonds are backed by the full faith and credit of the State of Mississippi, with bond income exempt from all state taxation

State Bond Commission has authority to determine bond terms, sale method, interest rates, and redemption provisions