MS HB769

Authorizes the issuance of state general obligation bonds not to exceed $7,500,000 to fund construction, furnishing, and equipping of a new Highway Safety Patrol Substation in Starkville, Mississippi.

Creates the "2020 Department of Public Safety Improvements Fund" as a special fund within the State Treasury to receive bond proceeds and disburse funds for the project.

Bonds must be issued by July 1, 2024, and may have a maturity of up to 25 years from the date of issue.

The State Bond Commission shall serve as the issuing agent and may sell bonds through sealed bids at public sale or negotiate private sales.

Bonds are general obligations of Mississippi backed by the full faith and credit of the state, are exempt from state taxation, and constitute legal investments for trustees, banks, and insurance companies.