MS HB1415

Amends Section 37-33-157 to authorize the Department of Rehabilitation Services to borrow money from the Mississippi Development Bank or other financial institutions for construction, repair, renovation, furnishing, and equipping of facilities owned or supervised by the department.

Requires the Department of Rehabilitation Services to certify to the lender the available revenue it intends to use for loan repayment and that it will not request additional state appropriations for debt service payments.

Authorizes the Department of Rehabilitation Services to borrow up to $7,000,000 from the Mississippi Development Bank specifically for construction, repair, renovation, furnishing, and equipping of the department's office building in Madison, Mississippi.

Exempts the Department of Rehabilitation Services from meeting certain bonding requirements under Section 31-25-27(14) when borrowing under this authority.

Takes effect July 1, 2011.