MS HB1353

Authorizes the State Bond Commission to issue up to $5,000,000 in general obligation bonds to fund repair, renovation, and improvements to buildings in Batesville, Mississippi for the Concourse Workforce Training Center.

Creates a special fund called "2019 Concourse Workforce Training Center" within the State Treasury to receive bond proceeds and disburse funds for the project under direction of the Department of Finance and Administration.

Bonds may have maturity dates up to 25 years from issuance, with interest rates not exceeding limits in Mississippi Code Section 75-17-101, and must be issued by July 1, 2023.

Bonds are backed by the full faith and credit of the State of Mississippi, meaning any shortfall in debt service payments shall be covered from the State Treasury; income from the bonds is exempt from state taxation.

Remaining funds in the special fund after project completion or abandonment shall be applied to pay debt service on the bonds, and investment earnings on the fund shall also be used for debt service.