MS HB1438

Authorizes the issuance of state general obligation bonds up to $9,000,000 to fund the replacement and reconstruction of Dansby Hall at Jackson State University.

Creates a special fund designated as the "2011 Dansby Hall Replacement Fund" within the State Treasury to be maintained separately from the General Fund, with unexpended amounts and interest earnings retained in the fund.

Grants the State Bond Commission authority to issue bonds with terms of up to 25 years, determine sale methods, advertise for bids, and manage all aspects of bond issuance and delivery.

Pledges the full faith and credit of the State of Mississippi to guarantee bond repayment, with any funding shortfalls to be covered by the State Treasurer from unappropriated funds.

Exempts the bonds and income from all state taxation and authorizes the Department of Finance and Administration to disburse funds for project costs under direction of the bureau overseeing building and property management.