MS HB196

Authorizes issuance of up to $4,000,000 in state general obligation bonds to fund rehabilitation and restoration of the Great River Railroad line from the Port of Rosedale in Bolivar County to the Town of Metcalfe in Washington County

Creates the "2023 Great River Railroad Fund" as a special fund within the State Treasury to receive bond proceeds and pay for track repairs, bridge reconstruction, line expansion, and related infrastructure improvements

Bonds may mature up to 25 years from date of issue, with interest rates subject to limits in Section 75-17-101 of Mississippi Code, and are backed by the full faith and credit of the State of Mississippi

Bonds and income from them are exempt from all Mississippi state taxation and qualify as legal investments for trustees, fiduciaries, savings banks, trust companies, and insurance companies

No bonds may be issued after July 1, 2027, with the act taking effect July 1, 2023