MS HB465

Authorizes the issuance of state general obligation bonds not to exceed $1,250,000 to fund construction, furnishing, and equipping of a building and related facilities for Copiah County Emergency Management Agency and 911 Headquarters.

Creates a special fund called the "2012 Copiah County Emergency Management Agency and 911 Headquarters Construction Fund" within the State Treasury to receive and disburse bond proceeds under direction of the Department of Finance and Administration.

Bonds shall not be issued after July 1, 2016, and may mature up to 25 years from date of issue with interest rates not exceeding limits set forth in Mississippi Code Section 75-17-101.

Full faith and credit of the State of Mississippi is pledged to secure the bonds; any deficiency in appropriated funds for principal and interest payments shall be covered by the State Treasurer from general funds.

Bonds and income therefrom are exempt from all taxation in Mississippi and constitute legal investments for trustees, fiduciaries, savings banks, trust companies, and insurance companies organized under state law.