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Bill > HB779
MS HB779
MS HB779Bonds; authorize issuance to assist City of Cleveland with purchasing motor vehicles for the city's police department.
summary
Introduced
01/16/2026
01/16/2026
In Committee
01/16/2026
01/16/2026
Crossed Over
Passed
Dead
02/25/2026
02/25/2026
Introduced Session
2026 Regular Session
Bill Summary
An Act To Authorize The Issuance Of State General Obligation Bonds To Provide Funds To Assist The City Of Cleveland, Mississippi, In Paying The Costs Associated With The Purchase Of Four Motor Vehicles For The City's Police Department; And For Related Purposes.
AI Summary
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 City of Cleveland purchase four police vehicles. The State Bond Commission, referred to as the "Commission," will manage the issuance and sale of these bonds, with a total amount not exceeding $182,100. The funds raised will be placed in a special fund called the "2026 City of Cleveland Police Department Motor Vehicles Fund" and disbursed to the city for the vehicle purchase. Any remaining funds after the purchase will be used to pay off the bonds. The bonds will mature within 25 years and will be exempt from state taxes. The act specifies that these bonds can be issued without additional legal proceedings beyond what is outlined in the bill and will take effect on July 1, 2026, with no bonds to be issued after July 1, 2030.
Committee Categories
Budget and Finance
Sponsors (1)
Last Action
Died In Committee (on 02/25/2026)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://billstatus.ls.state.ms.us/2026/pdf/history/HB/HB0779.xml |
| BillText | https://billstatus.ls.state.ms.us/documents/2026/html/HB/0700-0799/HB0779IN.htm |
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