MS HB107

Authorizes the State Bond Commission to issue up to $1,000,000 in general obligation bonds to help the City of Cleveland, Mississippi pay for extending Airport Terminal Road at Cleveland Municipal Airport.

Creates a special fund designated "2025 Cleveland Airport Terminal Road Extension Fund" within the State Treasury to receive bond proceeds and disburse them for project costs.

Bonds may mature up to 25 years from issuance, bear interest at rates not exceeding limits set in Mississippi Code Section 75-17-101, and must be issued by July 1, 2029.

Pledges the full faith and credit of the State of Mississippi to guarantee bond payment; if appropriated funds are insufficient, the State Treasurer must pay deficiencies from the General Treasury.

Takes effect July 1, 2025; any remaining fund balance after project completion shall be applied to pay debt service on the bonds.