MS HB81

Authorizes the State Bond Commission to issue state general obligation bonds not to exceed $425,000 to assist Prentiss County, Mississippi in purchasing a fire truck for the Ingram Volunteer Fire Department.

Establishes a special fund called the "2024 Prentiss County - Ingram Volunteer Fire Department Fire Truck Fund" within the State Treasury to receive and disburse bond proceeds for the fire truck purchase.

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

Bond proceeds must be used solely for the fire truck purchase and related issuance costs; any remaining funds after project completion shall be applied to debt service on the bonds.

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