MS HB1465

Authorizes the State Bond Commission to issue up to $100,000,000 in general obligation bonds to provide funds for school district capital improvements.

Creates the "2015 Public School Capital Improvements Fund" as a separate fund in the State Treasury to receive bond proceeds and distribute them to school districts.

Distributes funds to school districts based on average daily attendance: 30% proportional to each district's attendance and 70% proportional to each district's at-risk pupil attendance.

Bonds may mature up to 25 years from issue date, with interest rates not exceeding limits set in Mississippi Code, and are backed by the full faith and credit of the State of Mississippi.

Bonds and income are exempt from all Mississippi state taxation and may be sold through sealed bid public auction or negotiated sale, with proceeds used solely for school capital improvements and bond issuance costs.