MS HB1649

Authorizes issuance of state general obligation bonds not to exceed $810,000 to assist the City of Port Gibson, Mississippi with project costs.

Bond proceeds limited to: not more than $650,000 for construction of a new police station for the city police department, and not more than $160,000 for purchasing two police department motor vehicles and one public works utility motor vehicle.

Bonds may mature up to 25 years from date of issue at interest rates not exceeding limits set in Mississippi Code Section 75-17-101, with the full faith and credit of the State of Mississippi pledged for repayment.

Creates the "2025 City of Port Gibson Police Department and Motor Vehicles Fund" as a separate special fund in the State Treasury to receive bond proceeds and disburse funds for authorized projects.

No bonds may be issued under this act after July 1, 2029, and the act takes effect July 1, 2025.