MS SB3111

Authorizes issuance of up to $28,000,000 in state general obligation bonds to fund improvements to North Hills Street in Meridian, Mississippi

Creates the "2023 City of Meridian North Hills Street Improvements Fund" as a special fund within the State Treasury to hold bond proceeds

Bonds must be issued before July 1, 2027, and shall mature no later than 25 years from the date of issue

Bonds and income from them are exempt from all taxation in Mississippi and are backed by the full faith and credit of the state

Unexpended funds remaining after project completion or abandonment must be applied to pay debt service on the issued bonds