MS HB1558

Authorizes issuance of state general obligation bonds not to exceed $2,800,000 to fund construction, furnishing, and equipping of a new multipurpose building and related facilities at the Greenville Higher Education Center/Mississippi Delta Community College.

Creates a special fund called the "2018 Greenville Higher Education Center/Mississippi Delta Community College Improvements Fund" within the State Treasury to receive bond proceeds and disburse funds for the project.

Bonds may be issued up until July 1, 2022, with a maximum maturity of 25 years from issuance and interest rates not to exceed limits in Mississippi Code Section 75-17-101.

Pledges the full faith and credit of the State of Mississippi to guarantee bond payments; if appropriated funds are insufficient, the State Treasurer shall pay any deficiency from unappropriated state funds.

Bonds and income therefrom are exempt from all taxation in Mississippi and constitute legal investments for trustees, fiduciaries, banks, and insurance companies.