MS HB1462

Authorizes the issuance of state general obligation bonds up to $2,000,000 to assist the City of Jackson with construction, furnishing, and equipping of a real-time crime prevention center.

Creates a special fund designated "2020 City of Jackson Crime Prevention Center Fund" within the State Treasury to receive and disburse bond proceeds for the specified project.

Bonds may be issued at any time or from time to time by the State Bond Commission, with maturity not to exceed 25 years from date of issue, and no bonds may be issued after July 1, 2024.

Full faith and credit of the State of Mississippi is pledged to pay principal and interest on the bonds, with the State Treasurer responsible for ensuring sufficient funds are available for debt service.

Bonds are exempt from Mississippi state taxation and qualify as legal investments for trustees, fiduciaries, savings banks, trust companies, and insurance companies organized under state law.