MS HB1893

Authorizes the State Bond Commission to issue up to $2,100,000 in state general obligation bonds to assist the City of Indianola in purchasing a fire truck for its fire department.

Creates a special fund designated the "2025 City of Indianola Fire Truck Fund" within the State Treasury to receive and disburse bond proceeds for fire truck purchase costs.

Bonds are general obligations of the State of Mississippi backed by the full faith and credit of the state, with principal and interest payable from state appropriations or state treasury funds if appropriations prove insufficient.

Bonds may mature in up to 25 years from issuance, bear interest rates not exceeding Section 75-17-101 limits, and may be sold through sealed bids or negotiated sale; bond income is exempt from state taxation.

No bonds may be issued after July 1, 2029, and the act becomes effective July 1, 2025.