MS HB49

Authorizes the State Bond Commission to issue up to $1,250,000 in general obligation bonds to assist Copiah County in constructing, furnishing, and equipping a building to house the Copiah County Emergency Management Agency and 911 Headquarters.

Creates a special fund designated as the "2013 Copiah County Emergency Management Agency and 911 Headquarters Construction Fund" within the State Treasury, maintained separately from the General Fund with unexpended amounts and interest earnings retained in the fund.

Bonds may be issued at any time before July 1, 2017, with a maximum maturity of 25 years and interest rates not exceeding limits in Mississippi Code Section 75-17-101.

The full faith and credit of the State of Mississippi is pledged to pay bond principal and interest; any insufficiency shall be paid from the State Treasury's unappropriated funds.

Bond proceeds and investment earnings are exempt from Mississippi state taxation and may be used only for project costs and bond issuance expenses; remaining funds after project completion shall be applied to debt service.