MS SB3151

Authorizes issuance of state general obligation bonds up to $21,420,000 for Alcorn County road projects: $17,000,000 for Kimberly Clark Road expansion to U.S. Highway 45 and $4,420,000 for Kendrick Road/County Road 100 improvements.

Authorizes issuance of state general obligation bonds up to $54,280,000 for Tippah County infrastructure projects: $50,000,000 for Mississippi Highway 15 Project, $2,480,000 for Project STP-2914(3)B Brownfield Road, and $1,800,000 for Pioneer Rail Spur Industrial Park.

Creates separate special funds within the State Treasury for each county to hold bond proceeds, with unexpended amounts and investment earnings retained in the funds rather than reverting to the General Fund.

Bonds are backed by the full faith and credit of the state, mature within 25 years, bear interest not exceeding rates set in Mississippi Code Section 75-17-101, and are exempt from state taxation.

No bonds may be issued under this act after July 1, 2026, and remaining fund balances after project completion shall be applied to debt service on the bonds.