MS SB2846

Increases the maximum amount of general obligation bonds authorized for the Commerce Park Connector project in Ridgeland, Mississippi from $2,000,000 to $12,000,000.

Bonds will fund preconstruction, design, engineering, land acquisition, right-of-way acquisition, construction and development of the Commerce Park Connector project from Lake Harbour Drive to Highland Colony Parkway.

Bonds may not be issued after July 1, 2025, and must mature within 25 years from the date of issue.

All bond proceeds are deposited into the "2021 Commerce Park Connector Fund" and disbursed by the Department of Finance and Administration to assist the City of Ridgeland with project costs.

Bonds are general obligations of the State of Mississippi backed by the state's full faith and credit, and are exempt from state taxation.