MS HB1598

Authorizes issuance of up to $2,500,000 in state general obligation bonds to assist the Jackson Municipal Airport Authority in purchasing special fire service equipment to combat aeronautical incidents at Hawkins Field.

Creates a special fund designated "2020 Jackson Municipal Airport Authority Fire Service Equipment Fund" within the State Treasury to receive bond proceeds and disburse funds for equipment purchases and housing costs.

Establishes that bonds shall be issued by the State Bond Commission, may mature up to 25 years from issue, and interest shall not exceed limits set forth in Mississippi Code Section 75-17-101.

Provides that bonds are general obligations of the State of Mississippi with full faith and credit pledged for payment; any remaining fund balance after project completion shall be applied to pay debt service on the bonds.

No bonds may be issued under this section after July 1, 2024, and the act takes effect July 1, 2020.