MS HB1541

Establishes a pilot program administered by the Department of Public Safety to make grants to five eligible municipalities (Cities of Ruleville and Tutwiler, Towns of Lambert, Shaw, and Webb) for acquiring and installing security cameras and surveillance equipment.

Creates the "Small Municipalities Security Cameras and Equipment Pilot Program Fund" in the State Treasury to hold grant funds, with unexpended amounts carried forward and investment earnings deposited back into the fund.

Limits total grant funding per municipality to $50,000 in the aggregate, requiring municipalities to submit applications describing the project, costs, and grant amount requested.

Authorizes issuance of $250,000 in state general obligation bonds with maturity up to 25 years to fund the program, with bond issuance authority expiring July 1, 2023.

Designates bonds as general obligations of Mississippi with full faith and credit pledged, exempts bond income from state taxation, and makes bonds legal investments for fiduciaries and financial institutions; effective July 1, 2019.