MS HB153

Authorizes the issuance of state general obligation bonds not to exceed $2,500,000 to assist Coahoma County, Mississippi with restriping and overlay costs for a portion of Friars Point Road from Westover Drive to Coahoma Community College.

Creates the "2024 Coahoma County Friars Point Road Fund" as a special fund within the State Treasury to receive bond proceeds and disburse funds for the road project.

Bonds may mature up to 25 years from date of issue at interest rates not exceeding limits in Mississippi Code Section 75-17-101, and are backed by the full faith and credit of the state.

No bonds may be issued after July 1, 2028; any remaining funds after project completion shall be applied to debt service on the issued bonds.

Takes effect July 1, 2024.