MS SB2479

Authorizes issuance of up to $1,200,000 in state general obligation bonds to assist Noxubee County Board of Supervisors with HVAC improvements and Enhanced 911 system upgrades.

Creates the "2020 Noxubee County Infrastructure Improvement Fund" within the State Treasury to receive bond proceeds and disburse funds for the specified projects.

Bonds may be issued anytime before July 1, 2024, with maturity not exceeding 25 years and interest rates subject to Mississippi Code Section 75-17-101.

Bond principal and interest are obligations of the State of Mississippi backed by full faith and credit, with the State Treasurer authorized to issue warrants for payment when due.

Bond proceeds and income are exempt from all Mississippi state taxation, and bonds qualify as legal investments for trustees, fiduciaries, banks, and insurance companies.