MS HB1259

Authorizes the issuance of state general obligation bonds not to exceed $1,000,000 to assist the Town of Byhalia, Mississippi, with construction costs for a new police department building and jail.

Creates the "2025 Town of Byhalia Police Department and Jail Fund" within the State Treasury to receive bond proceeds and any investment earnings, which shall be disbursed at the discretion of the Department of Finance and Administration.

Bonds may mature up to 25 years from date of issue with interest rates not exceeding limits set in Section 75-17-101, Mississippi Code of 1972, and may be issued at any time before July 1, 2029.

Pledges the full faith and credit of the State of Mississippi for bond repayment; any remaining funds after project completion shall be applied to debt service on the bonds.

Effective date is July 1, 2025.