MS HB1500

Authorizes the State Bond Commission to issue up to $1,500,000 in general obligation bonds to assist Jefferson County in reconstructing a segment of McBride Road/State Route 552 to state standards.

Bonds shall not exceed 25 years maturity, bear interest at rates not exceeding limits set in Mississippi Code Section 75-17-101, and are backed by the full faith and credit of the State of Mississippi.

Creates the "2023 Jefferson County McBride Road/State Route 552 Fund" as a special fund in the State Treasury to receive bond proceeds and disburse funds for project costs including route location study, geotechnical investigation, design engineering, and environmental documentation.

No bonds may be issued after July 1, 2027; any remaining fund balance after project completion shall be applied to bond debt service.

Bonds are exempt from state taxation and constitute legal investments for trustees, fiduciaries, savings banks, trust companies, and insurance companies organized under Mississippi law.