MS HB355

Authorizes issuance of state general obligation bonds not to exceed $75,000,000 to fund construction of a stadium on the Jackson State University campus.

Creates a special fund designated the "2014 Jackson State University Stadium Construction Fund" within the State Treasury to receive bond proceeds and disburse funds for stadium construction costs.

Bonds may be issued at any time or in installments, with maturity not to exceed 25 years from date of issue, and no bonds may be issued after July 1, 2018.

Full faith and credit of the State of Mississippi is pledged to pay principal and interest on the bonds; any insufficient appropriated funds will be paid from the State Treasury.

Bonds are exempt from Mississippi state taxation and constitute legal investments for trustees, fiduciaries, banks, and insurance companies in the state.