MS HB1501

Authorizes the State Bond Commission to issue up to $1,100,000 in general obligation bonds to assist Claiborne County with road repairs and improvements, including Trace Hill, Karnac Ferry Road, Hankinson Road, Willows Road, and Tillman Road

Creates the "2023 Claiborne County Road Improvements Fund" within the State Treasury to receive bond proceeds and disburse funds for the specified road projects

Bonds may mature up to 25 years from issuance, bear interest not to exceed rates set in Mississippi Code Section 75-17-101, and are backed by the full faith and credit of the state

All bonds and interest are exempt from Mississippi state taxation and qualify as legal investments for trustees, fiduciaries, banks, and insurance companies

No bonds may be issued after July 1, 2027; the act takes effect July 1, 2023