MS HB1548

Authorizes the State Bond Commission to issue up to $650,000 in general obligation bonds to assist Jefferson County, Mississippi with costs of replacing a bridge on Brown Road.

Bonds may mature up to 25 years from issuance, bear interest at rates compliant with Mississippi Code Section 75-17-101, and be sold by public sealed bid or negotiated sale.

Creates the "2023 Jefferson County Brown Road Bridge Replacement Fund" within the State Treasury to receive bond proceeds and disburse funds for the bridge replacement project.

Full faith and credit of the State of Mississippi is pledged to secure the bonds, and any insufficiency in appropriated funds shall be paid by the State Treasurer from unappropriated state funds.

All bonds issued under this act are exempt from Mississippi state taxation, and no bonds may be issued after July 1, 2027; act becomes effective July 1, 2023.