MS HB939

Authorizes issuance of state general obligation bonds not to exceed $32,000,000 to fund construction, furnishing, and equipping of a Department of Public Safety headquarters building in Rankin County adjacent to the Mississippi Crime Laboratory and State Medical Examiner offices.

Limits bond issuance to no more than $16,000,000 per fiscal year and prohibits issuance after July 1, 2024.

Creates a special fund designated "2020-2021 Department of Public Safety Headquarters Building Construction Fund" within the State Treasury, with unexpended amounts not lapsing at fiscal year end and interest earnings deposited back into the fund.

Authorizes the State Bond Commission to issue bonds with maturity not exceeding 25 years, prescribe terms, advertise and accept bids, and determine sale methods; bonds are general obligations backed by the full faith and credit of Mississippi.

Bonds and income therefrom are exempt from all Mississippi state taxation and constitute legal investments for trustees, fiduciaries, savings banks, trust companies, and insurance companies.