MS HB401

Authorizes issuance of up to $1,500,000 in state general obligation bonds to assist North Bolivar Consolidated School District with school improvements.

Up to $750,000 shall be used for repair, renovation, rehabilitation and/or replacement of heating, ventilation, air conditioning systems and water and plumbing systems at Broad Street High School.

Up to $750,000 shall be used for upgrades to the vocational and technical education program at John F. Kennedy Memorial High School.

Creates a special fund within the State Treasury to receive bond proceeds and disburse funds for the specified projects under direction of the Department of Finance and Administration.

Bonds may not be issued after July 1, 2022, and shall mature within 25 years of issuance; any remaining funds after project completion shall be applied to debt service on the bonds.