MS HB1612

Authorizes the State Bond Commission to issue up to $10,000,000 in general obligation bonds to fund technology equipment and infrastructure improvements at Mississippi's community and junior colleges.

Creates a special "Community and Junior Colleges Technology Improvements Fund" within the State Treasury to receive bond proceeds and disburse funds through the State Board for Community and Junior Colleges.

Bonds may mature up to 25 years from issuance, bear interest at rates set by the State Bond Commission, and must be issued by July 1, 2013.

Bonds are backed by the full faith and credit of the State of Mississippi and are exempt from state taxation; income from the bonds is also tax-exempt.

Takes effect July 1, 2010.