MS SB2107

Authorizes issuance of state general obligation bonds up to $4,500,000 to assist Marshall County Board of Supervisors in building a full-time emergency response center (ambulance service, fire station, and sheriff's substation) near Chickasaw Trail Industrial Park.

Creates a special fund titled "2020 Marshall County Emergency Response Center Fund" within the State Treasury to receive and disburse bond proceeds for project costs, with unexpended amounts and investment earnings remaining in the fund.

Bonds shall mature within 25 years from issuance, with interest rates not to exceed limits set by Mississippi Code Section 75-17-101, and must be issued by July 1, 2024.

Full faith and credit of the State of Mississippi is pledged to pay bond principal and interest; any insufficiency shall be paid from the State Treasury.

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