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MS HB247
Bill
Status
Failed
2/21/2018
Primary Sponsor
Gregory Holloway
Click for details
AI Summary
- Authorizes issuance of up to $2,500,000 in state general obligation bonds for construction, furnishing, and equipping of faculty and staff housing facilities at Alcorn State University
- Creates the "2018 Alcorn State University Capital Improvements Fund" as a separate treasury fund to receive and disburse bond proceeds for the authorized projects
- Bonds must be issued by July 1, 2022, with maturity dates not exceeding 25 years from issuance and interest rates subject to Mississippi Code Section 75-17-101
- Bond proceeds are secured by the full faith and credit of the State of Mississippi, with deficiencies paid from the State Treasury if appropriated funds are insufficient
- Bonds are exempt from state taxation and any remaining fund balance after project completion shall be applied to debt service on the bonds
Legislative Description
Bonds; authorize issuance for capital improvements at Alcorn State University.
Last Action
Died In Committee
2/21/2018
Committee Referrals
Ways and Means1/2/2018
Full Bill Text
No bill text available