MS HB1471

Authorizes the State Bond Commission to issue up to $1,700,000 in general obligation bonds to fund construction, furnishing, and equipping of a county emergency operations center and related facilities in Noxubee County, Mississippi.

Creates the "2020 Noxubee County Emergency Operations Center Fund" within the State Treasury to receive bond proceeds, with funds disbursed by the Department of Finance and Administration for the specified project costs.

Bonds may mature up to 25 years from date of issue with interest rates not exceeding limits set in Mississippi Code Section 75-17-101, and no bonds may be issued after July 1, 2024.

Upon project completion, abandonment, or inability to complete timely, any remaining fund balance shall be applied to pay debt service on the issued bonds as directed by the State Bond Commission.

Bonds are general obligations of Mississippi with full faith and credit of the state pledged for payment, income from bonds is tax-exempt, and bonds are legal investments for state fiduciaries and financial institutions.