MS HB1437

Authorizes issuance of up to $1,500,000 in state general obligation bonds to fund property acquisition and campus improvements at Jackson State University

Creates the "2011 Jackson State University Property Acquisition and Improvement Fund" in the State Treasury to hold bond proceeds

Funds may be used for land acquisition, open space development, fencing, parking lot reconstruction, street closures and construction, irrigation, lighting, and utilities in accordance with the university's master plan

Bonds may mature up to 25 years from date of issue, are tax-exempt in Mississippi, and are backed by the full faith and credit of the state

Department of Finance and Administration oversees disbursement of funds and may accept additional local or other source funds for the projects