Bill > HB581

This bill authorizes the State of Mississippi to issue general obligation bonds, which are essentially loans backed by the state's full faith and credit, to help the Town of Bruce acquire a fire truck. The State Bond Commission, a body responsible for issuing state debt, will manage the sale of these bonds, with a total amount not exceeding $750,000, and no bonds to be issued after July 1, 2030. The proceeds will be placed in a dedicated fund, the "2026 Town of Bruce Fire Truck Acquisition Fund," and used to cover the costs associated with purchasing the fire truck. Any remaining funds after the acquisition is complete will be used to pay back the debt incurred from the bonds. The bill also outlines the procedures for issuing, selling, and validating these bonds, ensuring they are legally sound and can be invested in by various financial institutions. This act will take effect on July 1, 2026.

Budget and Finance

https://billstatus.ls.state.ms.us/2026/pdf/history/HB/HB0581.xml