MS HB984

Authorizes issuance of state general obligation bonds up to $2,500,000 to assist the Jackson Municipal Airport Authority in purchasing special fire service equipment to combat aeronautical incidents at Hawkins Field.

Creates the "2022 Jackson Municipal Airport Authority Fire Service Equipment Fund" within the State Treasury to receive bond proceeds and disburse funds for equipment purchases and housing costs.

Bonds shall mature no later than 25 years from date of issue with interest rates not exceeding limits set in Section 75-17-101 of Mississippi Code, with all principal and interest payable from the full faith and credit of the State.

No bonds may be issued under this authorization after July 1, 2026; any unexpended funds remaining after project completion shall be applied to pay debt service on the bonds.

Bonds are exempt from all state taxation and qualify as legal investments for trustees, fiduciaries, savings banks, trust companies, and insurance companies in Mississippi.