MS HB1442

Authorizes the State Bond Commission to issue general obligation bonds not to exceed $25,000 to fund acquisition and installation of lighting equipment and fixtures for floors and ramps inside and leading into Rose E. McCoy Auditorium at Jackson State University.

Creates a special fund designated "2015 Jackson State University Rose E. McCoy Auditorium Improvements Fund" within the State Treasury to receive bond proceeds and be managed separately from the General Fund.

Bonds may mature up to 25 years from date of issue with interest rates not exceeding limits set in Mississippi Code Section 75-17-101, and no bonds may be issued after July 1, 2019.

Pledges the full faith and credit of the State of Mississippi for bond repayment, with any insufficient appropriated funds to be covered by the State Treasurer from unappropriated state funds.

Bonds and income therefrom are exempt from all taxation in Mississippi and may be validated in Chancery Court of the First Judicial District of Hinds County.