MS HB4039

Authorizes the State Bond Commission to issue state general obligation bonds not exceeding $6,000,000 to assist Rankin County with the Florence-Byram Parkway Improvement Project, specifically for eliminating an at-grade railroad crossing through a required grade separation component.

Creates the "2024 Rankin County Florence-Byram Parkway Project Fund" within the State Treasury to receive bond proceeds and disburse funds for project costs, with unexpended amounts not lapsing and interest earnings remaining in the fund.

Bonds may be issued at any time or in multiple installments until July 1, 2028, with a maximum maturity of 25 years, and the full faith and credit of Mississippi is pledged to repay them.

Bonds are exempt from state taxation, constitute legal investments for fiduciaries and financial institutions, and remaining fund amounts must be applied to debt service after the Department of Finance and Administration certifies project completion, abandonment, or inability to complete timely.

Takes effect July 1, 2024.