Bill > HB1698

This bill authorizes the State of Mississippi to issue up to $100,000 in general obligation bonds to help Hinds County purchase and install video cameras aimed at preventing public health violations and promoting public safety. The State Bond Commission will manage the bond issuance process, with bonds having a maximum maturity of 25 years and bearing interest rates not exceeding legal limits. A special fund called the "2025 Hinds County Video Cameras Fund" will be established in the State Treasury to receive the bond proceeds, and the Department of Finance and Administration will have discretion in disbursing the funds to Hinds County for the camera project. The bonds will be backed by the full faith and credit of Mississippi, meaning the state guarantees repayment, and if legislative appropriations are insufficient, the State Treasurer will cover any shortfalls from unallocated state funds. The bonds will be exempt from state taxation and can be considered legal investments for various financial institutions. The bill specifies that any unused funds remaining after project completion will be applied to debt service on the bonds, and no bonds can be issued after July 1, 2029. The legislation is set to take effect on July 1, 2025.

Budget and Finance

https://billstatus.ls.state.ms.us/2025/pdf/history/HB/HB1698.xml