MS HB422

Increases the total amount of general obligation bonds that may be issued to $21,775,930.00 (previously lower amount) for rural fire truck funding purposes.

Allocates $6,655,930.00 of bond proceeds to the Supplementary Rural Fire Truck Fund and $15,120,000.00 to the Rural Fire Truck Fund.

Establishes that all bonds issued under this authority shall be general obligations of the State of Mississippi with full faith and credit pledged for repayment.

Sets a deadline of July 1, 2011 for issuance of bonds authorized under this act.

Authorizes the State Bond Commission to determine bond terms including form, sale method, interest rates (not to exceed limits in Section 75-17-101), and maturity dates up to 25 years.