MS HB1895

Authorizes the State Bond Commission to issue up to $1,900,000 in general obligation bonds to assist Forrest County in purchasing fire trucks for volunteer fire departments.

Creates the "2024 Forrest County Volunteer Fire Departments Fire Trucks Fund" within the State Treasury to receive bond proceeds and disburse funds for fire truck purchases.

Bonds may have interest rates up to the limit set in Mississippi Code Section 75-17-101, mature within 25 years, and are backed by the full faith and credit of the State of Mississippi.

Bond proceeds and investment earnings in the fund may be applied to debt service on the bonds after projects are completed, abandoned, or cannot be timely completed.

No bonds may be issued under this authority after July 1, 2028, and the act takes effect July 1, 2024.