MS HB1291

Increases the maximum amount of general obligation bonds that may be issued for the Rural Fire Truck Fund and Supplementary Rural Fire Truck Fund from $17,850,000 to $21,070,000.

Extends the authority to issue such bonds until July 1, 2015 (previously July 1, 2013).

Allocates $5,500,000 of bond proceeds to the Supplementary Rural Fire Truck Fund and $15,570,000 to the Rural Fire Truck Fund.

Bonds are general obligations of the State of Mississippi backed by full faith and credit of the state, with principal and interest payable over a maximum of 25 years from issuance.

Bond proceeds are exempt from state taxation and may be used solely for rural fire truck purposes, including costs related to bond issuance and sale.