MS HB1530

Authorizes issuance of state general obligation bonds up to $7,500,000 to assist the City of Oxford, Mississippi with repair and renovation of a building for the Oxford Police Department.

Creates the "2023 City of Oxford Police Department Building Fund" as a special fund in the State Treasury to receive bond proceeds and disburse funds for the project.

Bonds are general obligations of the State of Mississippi backed by full faith and credit of the state, with principal and interest payable from legislative appropriations or state treasury funds if needed.

Bonds may mature up to 25 years from issuance, bear interest at rates not exceeding statutory limits, and income from bonds is exempt from state taxation.

No bonds may be issued after July 1, 2027; act takes effect July 1, 2023.