MS HB1452

Authorizes issuance of up to $6,000,000 in state general obligation bonds to fund construction, furnishing, and equipping of a new Highway Safety Patrol Substation in Starkville, Mississippi.

Creates a special "2015 Department of Public Safety Improvements Fund" within the State Treasury to receive bond proceeds and hold funds separately from the General Fund.

Bonds may be issued any time before July 1, 2019, with maturity dates not exceeding 25 years from issue date and interest rates subject to state limitations.

Full faith and credit of the State of Mississippi is pledged for bond repayment; any insufficient appropriated funds will be covered by the State Treasurer from unappropriated treasury funds.

Bond proceeds and income are exempt from state taxation and may be used legally as investments by fiduciaries, banks, insurance companies, and public entities in Mississippi.