MS HB1652

Authorizes issuance of state general obligation bonds not to exceed $12,500,000 for construction, repair, renovation, and expansion of the Joseph H. Jackson Building at Jackson State University's College of Education and Human Development.

Creates a special fund within the State Treasury called the "2017 Jackson State University College of Education and Human Development Improvements Fund" to receive bond proceeds and disburse them for the authorized projects.

Bonds may be issued anytime before July 1, 2021, with maturity dates not exceeding 25 years from issuance and interest rates subject to existing state law limits.

Full faith and credit of the State of Mississippi is pledged to guarantee bond repayment; if appropriated funds are insufficient, the State Treasurer must pay any deficiency from other available state funds.

Bonds are tax-exempt securities in Mississippi and constitute legal investments for trustees, fiduciaries, banks, and insurance companies; bond proceeds are exempt from state taxation.