MS HB399

Authorizes issuance of up to $2,250,000 in state general obligation bonds to assist West Bolivar Consolidated School District with repairs and renovations at three schools: West Bolivar High School, Shaw High School, and Ray Brooks School.

Allocates maximum $750,000 per school for HVAC system repairs or replacement, water and sewer system repairs or replacement, and mold removal and remediation.

Creates the "2018 West Bolivar Consolidated School District Improvements Fund" within the State Treasury to receive bond proceeds and manage disbursements under direction of the Department of Finance and Administration.

Bonds may mature up to 25 years from issue date and must be issued by July 1, 2022; interest earnings on the fund shall be used for bond debt service.

Bonds are full faith and credit obligations of Mississippi; any remaining fund balance after project completion shall be applied to debt service payments.