MS SB2969

Authorizes issuance of up to $1,200,000 in state general obligation bonds to assist Noxubee County Board of Supervisors with HVAC improvements and Enhanced 911 system upgrades.

Creates the "2019 Noxubee County Infrastructure Improvement Fund" within the State Treasury to receive bond proceeds and disburse funds for the specified projects.

Bonds may not be issued after July 1, 2023, and may have a maturity of up to 25 years with interest rates subject to Mississippi Code Section 75-17-101.

Bonds are backed by the full faith and credit of the State of Mississippi, with the State Treasurer authorized to issue warrants for debt service payments if appropriated funds are insufficient.

Bond proceeds and income are exempt from Mississippi state taxation, and any remaining funds after project completion shall be applied to pay debt service on the bonds.