MS SB3023

Authorizes issuance of state general obligation bonds not to exceed $4,000,000 to fund Phase I design, construction, furnishing and equipping of the Wellspring Center for Professional Futures in Union County, Mississippi.

Creates a special "2011 Wellspring Center for Professional Futures Construction Fund" within the State Treasury to receive and disburse bond proceeds, with unexpended amounts and investment earnings applied to debt service after project completion.

Bonds shall mature within 25 years, bear interest not to exceed limits in Section 75-17-101, and are backed by the full faith and credit of the State; principal and interest payable semiannually or annually.

Amends Sections 37-31-71, 37-31-73 and 37-31-75 to authorize school districts, community/junior college districts and local governments to enter into agreements establishing regional education centers with joint governance and financing provisions.

Effective July 1, 2011.