MS SB3009

Authorizes the State Bond Commission to issue up to $8,000,000 in general obligation bonds to fund furnishing, equipping, remodeling, repairing, and renovating a portion of Metrocenter Mall in Jackson to house the Hinds Community College Workforce Development Training Center.

Creates a special fund designated "2018 Hinds Community College Workforce Development Training Center Fund" within the State Treasury to receive bond proceeds and disburse funds under the Department of Finance and Administration's direction.

Bonds shall mature within 25 years from issuance, bear interest at rates not to exceed limits in Mississippi Code Section 75-17-101, and be backed by the full faith and credit of the State of Mississippi.

Bond proceeds and any remaining funds after project completion shall be used to pay debt service on the bonds, with interest earnings on fund deposits also applied to debt service.

Bonds are exempt from Mississippi state taxation and qualify as legal investments for trustees, fiduciaries, savings banks, trust companies, and insurance companies in Mississippi.