MS SB2008

Authorizes issuance of state general obligation bonds not to exceed $150,000 to assist the Village of Cary, Mississippi in funding fire station construction costs.

Creates the "2023 Village of Cary Fire Station Fund" as a separate special fund within the State Treasury to receive bond proceeds and any investment earnings.

Bonds may mature up to 25 years from date of issue with interest rates not exceeding limits in Section 75-17-101, Mississippi Code of 1972, and are backed by the full faith and credit of the State of Mississippi.

State Bond Commission serves as issuing agent with authority to determine bond terms, advertise for bids, and conduct public or negotiated sales; proceeds must be used solely for fire station construction costs and issuance expenses.

No bonds may be issued under this act after July 1, 2027; any remaining fund balances after project completion shall be applied to pay debt service on the bonds.