MS HB88

Authorizes the State Bond Commission to issue general obligation bonds not exceeding $103,195.00 to assist the City of Baldwyn, Mississippi with purchasing fire fighting and fire protection equipment for its fire department.

Creates a special fund designated "2024 City of Baldwyn Fire Department Fund" within the State Treasury to receive and disburse bond proceeds for the specified equipment purchases.

Bonds shall be general obligations of the State of Mississippi with full faith and credit pledged for repayment, with interest rates not exceeding limits in Mississippi Code Section 75-17-101 and maturity not to exceed 25 years from date of issue.

Bonds are exempt from all state taxation and are legal investments for trustees, fiduciaries, savings banks, trust companies, and insurance companies organized under Mississippi law.

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