Bonds; authorize issuance to assist Pike County with a bridge project.

HB 502 authorizes Mississippi to issue state general obligation bonds to provide funds for Pike County's U.S. Highway 51 Bridge Project in the Pike County Industrial Park. The bill directs bond proceeds to a special fund managed by the State Bond Commission, which will disburse the money to Pike County to cover bridge construction costs. The bonds are backed by the full faith and credit of the State of Mississippi, meaning the state treasury would cover any payment shortfalls if needed. This directly assists Pike County with infrastructure development while creating state debt repayable over up to 25 years.