MS HB1827

Authorizes issuance of up to $200,000 in Mississippi state general obligation bonds to assist the City of Itta Bena with purchasing heavy equipment, specifically one backhoe and one bucket truck

Creates the "2026 City of Itta Bena Heavy Equipment Acquisition Fund" as a special fund within the State Treasury, with unexpended amounts and interest earnings remaining in the fund rather than lapsing to the General Fund

Bonds may mature up to 25 years from date of issue, with interest payable semiannually or annually, and are backed by the full faith and credit of the State of Mississippi

Bonds and income from them are exempt from all Mississippi state taxation and qualify as legal investments for trustees, fiduciaries, savings banks, trust companies, and insurance companies

No bonds may be issued under this act after July 1, 2030, with the act taking effect July 1, 2026