MS HB1436

Authorizes issuance of state general obligation bonds up to $3,000,000 to fund upgrades to mechanical systems and fire suppression system at the Alexander Center at Jackson State University.

Creates the "2011 Alexander Center Mechanical System Upgrade Fund" as a separate special fund within the State Treasury to receive bond proceeds and disburse funds for the project.

Grants the State Bond Commission authority to issue, sell, and manage the bonds through public sale or negotiated sale, with bonds maturing within 25 years and bearing interest at rates set by state law.

Pledges the full faith and credit of Mississippi to repay the bonds; any insufficient appropriated funds shall be paid from the State Treasury's unappropriated funds.

Exempts the bonds from state taxation and establishes them as legal investments for trustees, fiduciaries, and financial institutions in Mississippi.