MS HB629

Authorizes issuance of state general obligation bonds not to exceed $12,500,000 for construction, repair, renovation, and expansion of the Joseph H. Jackson Building and related facilities at Jackson State University's College of Education and Human Development.

Creates a special fund designated "2018 Jackson State University College of Education and Human Development Improvements Fund" to receive bond proceeds and disburse funds for authorized projects under Department of Finance and Administration discretion.

Bonds must be issued by July 1, 2022, with maturity dates not exceeding 25 years, and shall bear the full faith and credit pledge of the State of Mississippi for repayment.

Remaining funds after project completion shall be applied to pay debt service on the bonds, with any investment earnings from the fund also used for debt service payments.

Bond proceeds are exempt from state taxation and constitute legal investments for trustees, fiduciaries, banks, and insurance companies operating in Mississippi.