MS HB1550

Authorizes issuance of state general obligation bonds up to $100,000,000 for Capitol Complex improvements, Jackson water/sewer systems, and Jackson Public School District facilities, with no bonds issued after July 1, 2023

Creates the "2019 Capitol Complex Improvement District, City of Jackson and Jackson Public School District Improvements Fund" with funds allocated as follows: 40% for Capitol Complex projects, 40% for Jackson water/sewer infrastructure, and 20% for school district construction and repairs

Bonds are general obligations of the State backed by full faith and credit, with principal and interest payable primarily from the Capitol Complex Improvement District Project Fund and secondarily from the State Treasury if insufficient

Amends Section 29-5-215 to require at least 85% of Capitol Complex Improvement District Project Fund revenue be used to repay bonds issued under this act until fully repaid, then used for improvement projects per the district's comprehensive plan

Effective date is July 1, 2019