MS HB326

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

Creates a special fund designated "2025 Coahoma County Friars Point Road Fund" within the State Treasury to receive bond proceeds and disburse funds for the road project costs.

Bonds shall be issued by the State Bond Commission with maturity not exceeding 25 years, interest rates not to exceed limits in Mississippi Code Section 75-17-101, and are backed by the full faith and credit of the state.

Bonds and income therefrom are exempt from all Mississippi state taxation and may be validated through Chancery Court of the First Judicial District of Hinds County.

No bonds may be issued after July 1, 2029; any remaining funds after project completion shall be applied to pay debt service on the bonds.