MS SB3190

Authorizes issuance of state general obligation bonds up to $5,000,000 to assist the City of Tupelo, Mississippi in constructing a new fire department and emergency command center, with remaining funds used for equipment purchases.

Authorizes issuance of state general obligation bonds up to $150,000 to assist in defraying costs of the North Mississippi Symphony Orchestra.

Creates separate special funds within the State Treasury for each project; unexpended amounts do not lapse at fiscal year-end and investment earnings are retained in each fund.

Bonds may be issued at any time until July 1, 2028, with maturity dates not exceeding 25 years from issuance and interest rates not exceeding limits set in Mississippi Code Section 75-17-101.

Establishes that bonds are general obligations of the State of Mississippi backed by full faith and credit; provides exemptions from state taxation for bonds and their income.