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MS HB214
Bill
Status
2/22/2023
Primary Sponsor
Jerry Turner
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AI Summary
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Authorizes the issuance of state general obligation bonds not to exceed $125,000 to assist the City of Guntown, Mississippi in purchasing emergency equipment for its fire department.
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Creates a special fund designated "2023 City of Guntown Fire Department Fund" within the State Treasury to receive and disburse bond proceeds for the authorized purpose.
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Establishes that bonds are general obligations of Mississippi with full faith and credit of the state pledged for repayment, with interest rates not to exceed limits in Section 75-17-101 and maturity not exceeding 25 years.
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Prohibits bond issuance after July 1, 2027, and specifies that any remaining fund amounts after project completion shall be applied to pay debt service on the bonds.
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Bonds and income earned are exempt from state taxation and may be validated through Chancery Court proceedings; takes effect July 1, 2023.
Legislative Description
Bonds; authorize issuance to assist City of Guntown with purchase of emergency equipment for the city's fire department.
Last Action
Died In Committee
2/22/2023