MS HB925

Authorizes issuance of state general obligation bonds not to exceed $1,155,000 to fund acquisition of fire trucks and equipment for Lowndes County District 3 Fire and Rescue in Mississippi.

Creates a special fund called the "2022 Lowndes County District 3 Fire and Rescue Fund" within the State Treasury to receive bond proceeds and disburse funds for the authorized project.

Bonds may be issued at any time until July 1, 2026, with maturity not exceeding 25 years from issue date and interest rates subject to Mississippi Code Section 75-17-101.

Full faith and credit of the State of Mississippi is pledged to guarantee bond payment; if appropriated funds are insufficient, the State Treasurer shall pay any deficiency from other available state funds.

Bonds are exempt from state taxation, qualify as legal investments for fiduciaries and financial institutions, and proceeds may only be used for the stated project purposes and issuance costs; effective July 1, 2022.