MS HB1569

Authorizes the issuance of up to $1,300,000 in state general obligation bonds to assist Noxubee County, Mississippi with acquisition and installation of communications equipment and furnishings for a county 911 dispatch center.

Creates a special fund designated "2020 Noxubee County 911 Dispatch Center Fund" within the State Treasury to receive bond proceeds and disburse funds for the project under the Department of Finance and Administration's discretion.

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.

Bonds are backed by the full faith and credit of the State of Mississippi, with the State Treasurer obligated to pay principal and interest from any available state funds if appropriated funds are insufficient.

Bond proceeds are exempt from Mississippi state taxation and the State Bond Commission may sell bonds through public sealed bids or negotiated sale.