MS HB1661

Authorizes issuance of up to $2,500,000 in state general obligation bonds to fund construction, furnishing, and equipping of new faculty and staff housing at Alcorn State University

Creates the "2017 Alcorn State University Capital Improvements Fund" within the State Treasury to hold and disburse bond proceeds

Bonds must be issued before July 1, 2021, and mature within 25 years from date of issue

Department of Finance and Administration, through the Bureau of Building, Grounds and Real Property Management, oversees expenditure of funds and may receive additional local or other source funds for the projects

Bonds are tax-exempt general obligations of the State of Mississippi, backed by the full faith and credit of the state