MS SB2893

Authorizes the State Bond Commission to issue up to $500,000 in general obligation bonds to fund construction and installation of a traffic signal at the intersection of East Metro Parkway and El Dorado Road in Pearl, Mississippi.

Bonds may mature up to 25 years from issue date with interest rates not exceeding limits set in Mississippi Code Section 75-17-101, and no bonds may be issued after July 1, 2028.

Creates the "2024 East Metro Parkway/El Dorado Road Traffic Signal Fund" as a separate special fund within the State Treasury to receive bond proceeds and disburse funds to the Mississippi Department of Transportation for the project.

Pledges the full faith and credit of the State of Mississippi to guarantee bond payments, with any shortfalls paid by the State Treasurer from the General Treasury.

Takes effect July 1, 2024.