MS SB2083

Authorizes issuance of up to $27,000,000 in state general obligation bonds, with funds allocated as $10,000,000 for repair and renovation of faculty and staff housing at Alcorn State University and $17,000,000 for repair and renovation of Edna Horton Hall and Leflore Hall at Mississippi Valley State University.

Creates a special fund designated "2016 Alcorn State University and Mississippi Valley State University Critical Needs Capital Improvement Fund" within the State Treasury to receive bond proceeds and disburse funds for the specified projects.

Requires the State Bond Commission to oversee bond issuance, determine sale methods, handle advertising and bidding, and manage all aspects of bond sale and delivery, with costs payable from bond proceeds.

Specifies bonds shall be general obligations of Mississippi with full faith and credit pledged, mature within 25 years, bear interest at rates not exceeding Section 75-17-101 limits, and be exempt from state taxation.

Establishes deadline of July 1, 2020 for bond issuance and directs that any remaining funds after project completion be applied to debt service payments on the bonds.