MS SB2918

Authorizes the Mississippi Department of Finance and Administration to acquire three parcels of real estate in Jackson totaling approximately 78.24 acres for the University of Mississippi Medical Center, with acquisition price not to exceed fair market value as determined by at least two independent appraisals.

Creates the "2013 University of Mississippi Property Acquisition Fund" within the State Treasury as a separate fund to hold and disburse monies for purchasing the specified real estate.

Authorizes issuance of general obligation bonds totaling no more than $5,000,000 by the State Bond Commission to fund the property acquisition, with bonds maturing within 25 years and bearing interest at rates compliant with Mississippi law.

Pledges the full faith and credit of the State of Mississippi to guarantee bond repayment, requiring the State Treasurer to pay any deficiency from unappropriated state funds if legislative appropriations are insufficient.

Bonds cannot be issued after July 1, 2017, and all bond proceeds must be used solely for acquiring the specified property and costs incident to bond issuance and sale.