MS SB3043

Authorizes the State Bond Commission to issue up to $75,000 in general obligation bonds to assist Calhoun County Board of Supervisors in replacing two sheriff's department vehicles.

Creates a special fund called the "2021 Calhoun County Sheriff's Vehicles Fund" within the State Treasury to receive and disburse bond proceeds for the vehicle replacement project.

Bonds may be issued at any time before July 1, 2025, with a maturity period not exceeding 25 years and interest rates complying with Mississippi Code Section 75-17-101.

Pledges the full faith and credit of the State of Mississippi to guarantee payment of principal and interest; any shortfall shall be paid from the State Treasury.

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