MS HB106

Authorizes the issuance of state general obligation bonds not to exceed $182,100 to assist the City of Cleveland, Mississippi in purchasing four motor vehicles for its police department.

Creates a special fund designated the "2025 City of Cleveland Police Department Motor Vehicles Fund" within the State Treasury to receive and disburse bond proceeds for the specified vehicle purchases.

Establishes that bonds are general obligations of Mississippi with full faith and credit pledged; any unpaid principal and interest shall be paid from the State Treasury.

Permits bonds to mature within 25 years from issue date, with interest rates not exceeding limits under Mississippi Code Section 75-17-101, and prohibits bond issuance after July 1, 2029.

Makes bonds and income therefrom exempt from all state taxation and designates them as legal investments for trustees, fiduciaries, and financial institutions in Mississippi.