MS HB1324

Authorizes issuance of state general obligation bonds not to exceed $15,000,000 to fund repair and renovation of campus buildings, facilities, and infrastructure at Jackson State University.

Creates the "2019 Jackson State University Repair and Renovation Fund" as a special fund maintained by the State Treasurer, separate from the General Fund, with unexpended amounts not lapsing at fiscal year end.

Bonds may mature up to 25 years from date of issue with interest rates not exceeding limits in Mississippi Code Section 75-17-101, and no bonds may be issued after July 1, 2023.

State Bond Commission acts as issuing agent with authority to prescribe bond form, determine sale method, advertise for bids, and issue and sell bonds; all incident costs may be paid from bond proceeds.

Bonds are full faith and credit general obligations of the State of Mississippi, are exempt from state taxation, and constitute legal investments for trustees, fiduciaries, and financial institutions.