MS SB2177

Authorizes issuance of state general obligation bonds not to exceed $360,000 to assist the Lee County Board of Supervisors in purchasing a fire truck for the Richmond community.

Creates a special fund titled "2023 Lee County Richmond Community Fire Truck Fund" within the State Treasury to receive bond proceeds and disburse funds for the fire truck purchase.

Bonds may be issued at any time until July 1, 2027, with maturity not exceeding 25 years from date of issue and interest rates not exceeding limits set in Mississippi Code Section 75-17-101.

Pledges the full faith and credit of the State of Mississippi to guarantee payment of bond principal and interest, with any deficiency paid by the State Treasurer from unappropriated state funds.

Bonds are exempt from state taxation and qualify as legal investments for trustees, fiduciaries, banks, and insurance companies; any remaining fund balance after project completion shall be applied to bond debt service.