MS SB2253

Authorizes the issuance of state general obligation bonds not to exceed $3,600,000 to fund construction, furnishing, and equipping of two career technical buildings at the Greenville Higher Education Center.

Creates a special fund designated "2018 Greenville Higher Education Center Career Tech Building Construction Fund" within the State Treasury to receive bond proceeds and manage disbursements for the project.

Bonds may mature up to 25 years from issuance with interest rates not exceeding limits set in Mississippi Code Section 75-17-101, and no bonds may be issued after July 1, 2022.

Establishes that bonds are general obligations of Mississippi with full faith and credit of the State pledged; any remaining funds after project completion shall be applied to debt service on the bonds.

Investment earnings on fund deposits shall be used for debt service, and the bonds and their income are exempt from Mississippi state taxation.