MS HB869

Authorizes the State Bond Commission to issue up to $8,000,000 in general obligation bonds to fund repair and renovation of the 101 Capitol Centre property at 101 West Capitol Street in Jackson, Mississippi.

Permits up to $2,000,000 of bond proceeds to be used for repair and renovation of other projects designated by the Department of Finance and Administration.

Creates the "2010 101 Capitol Centre Improvements Fund" within the State Treasury to receive and disburse bond proceeds, with unexpended amounts and investment earnings remaining in the fund rather than reverting to the General Fund.

Bonds shall mature within 25 years from issuance, bear interest at rates not exceeding limits in Mississippi Code Section 75-17-101, and be backed by the full faith and credit of the State of Mississippi.

No bonds may be issued under this authority after July 1, 2014, and the act takes effect July 1, 2010.