MS SB2974

Authorizes issuance of general obligation bonds not to exceed $11,000,000 for capital improvements at the Mississippi State Fire Academy in Rankin County, with no bonds issued after July 1, 2023.

Creates the "2019 Mississippi State Fire Academy Capital Improvements Fund" as a separate treasury fund for construction, furnishing, and equipping of a fire station, dormitory, disaster staging area, and related infrastructure.

Bonds mature within 25 years and bear interest at rates not exceeding limits set in Mississippi Code Section 75-17-101, with principal and interest payable semiannually or annually.

Bonds are general obligations of the State of Mississippi backed by the full faith and credit of the state, and are exempt from state taxation.

The State Bond Commission acts as issuing agent with authority to prescribe bond form, determine sale method, advertise for bids, and manage all aspects of bond issuance and sale.