MS HB1626

Authorizes issuance of up to $10,000,000 in state general obligation bonds for capital improvements at the Mississippi State Fire Academy in Rankin County, with no bonds to be issued after July 1, 2022.

Allocates up to $7,000,000 for construction, furnishing and equipping of a fire station, dormitory, and state disaster staging area at the academy, with remaining funds for repairs, renovations, and equipment replacements.

Creates the "2018 Mississippi State Fire Academy Capital Improvements Fund" as a separate special fund within the State Treasury to receive bond proceeds and disburse funds under direction of the Department of Finance and Administration.

Pledges the full faith and credit of the State of Mississippi to guarantee bond repayment, with any deficiencies paid from the State Treasury.

Bonds are exempt from state taxation, qualify as legal investments for fiduciaries and financial institutions, and mature within 25 years with interest rates not exceeding statutory limits.