MS SB2516

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

Creates a special fund designated as the "2012 Dansby Hall Replacement Fund" within the State Treasury, maintained separately from the General Fund, with unexpended amounts and investment earnings retained in the fund.

Grants the State Bond Commission authority to determine bond terms including interest rates (not to exceed limits in Mississippi Code Section 75-17-101), maturity dates (maximum 25 years), and sale methods through sealed bids or negotiation.

Pledges the full faith and credit of the State of Mississippi to guarantee payment of principal and interest on bonds, with the State Treasurer required to pay any deficiency from unappropriated state funds.

Exempts bonds and their income from all Mississippi state taxation and designates them as legal investments for trustees, fiduciaries, banks, and insurance companies.