MS SB2179

Authorizes issuance of up to $1,000,000 in State of Mississippi general obligation bonds to help the City of Saltillo construct a new fire station

Creates the "2023 City of Saltillo Fire Station Construction Fund" within the State Treasury to hold bond proceeds, with funds remaining separate from the General Fund

Bonds may not be issued after July 1, 2027, and must mature within 25 years from the date of issue

Bonds are backed by the full faith and credit of the State of Mississippi, and both the bonds and income from them are exempt from all state taxation

Any remaining funds after project completion, abandonment, or if the project cannot be completed in a timely manner will be applied to pay debt service on the bonds