MS SB3020

Authorizes issuance of state general obligation bonds not to exceed $500,000 to fund fire protection system upgrades in the Pontotoc County Industrial Park, including constructing an elevated water storage tank, increasing water line size, installing fire hydrants, and adding an emergency valve.

Creates a special fund called the "2020 Pontotoc County Industrial Park Fire Protection System Upgrades Fund" within the State Treasury to receive and disburse bond proceeds for the authorized projects.

Grants the State Bond Commission authority to issue, sell, and manage the bonds, determine sale methods, and prescribe bond terms including maturity not to exceed 25 years and interest rates within legal limits.

Makes the bonds general obligations of Mississippi with full faith and credit pledged by the state; any remaining funds after project completion shall be applied to debt service on the bonds.

Prohibits bond issuance after July 1, 2024, and exempts bonds and their income from state taxation.