MS HB1439

Authorizes issuance of up to $25,000,000 in state general obligation bonds for community and junior college capital improvements, with bonds to be issued by July 1, 2019.

Creates the "2015 Community and Junior Colleges Capital Improvements Fund" to finance acquisition of real property, construction of new facilities, equipment, furniture, technology, and renovation of existing facilities at 15 Mississippi community colleges.

Allocates specific bond amounts to each college, ranging from $1,161,350 (Coahoma) to $2,785,398 (Hinds), with any unused funds after four years to be applied to bond debt service.

Authorizes the State Bond Commission to determine bond terms including interest rates, maturity dates (not exceeding 25 years), denomination, and sale method, with all bonds backed by the full faith and credit of the State of Mississippi.

Bonds and income are exempt from Mississippi state taxation and constitute legal investments for trustees, fiduciaries, and financial institutions organized under state law.