MS HB1704

Authorizes the State Bond Commission to issue up to $4,000,000 in general obligation bonds to assist Pike County, Mississippi with costs of the U.S. Highway 51 Bridge Project in the Pike County Industrial Park.

Creates a special fund designated "2025 Pike County U.S. Highway 51 Bridge Project Fund" within the State Treasury to receive bond proceeds and disburse funds for the project costs.

Bonds are backed by the full faith and credit of the State of Mississippi, are exempt from state taxation, and may mature up to 25 years from issuance with interest rates not exceeding limits set in Mississippi Code Section 75-17-101.

All investment earnings on amounts in the special fund shall be used to pay debt service on the bonds, and any unexpended amounts shall not lapse into the General Fund.

No bonds may be issued under this act after July 1, 2029, and the act takes effect July 1, 2025.