MS HB1678

Authorizes issuance of up to $4,000,000 in state general obligation bonds to fund critical upgrades and improvements to the water plant and related infrastructure at Alcorn State University

Creates the "2017 Alcorn State University Water Plant Critical Improvements Fund" as a special fund within the State Treasury to hold bond proceeds for planning, construction, repair, rehabilitation, and renovation costs

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

The State Bond Commission serves as the issuing agent with authority to determine bond form, sale method, and pricing in the best interest of the state

Bonds are general obligations backed by the full faith and credit of Mississippi and are exempt from all state taxation