MS HB1569

Authorizes the State Bond Commission to issue up to $15,000,000 in general obligation bonds to fund repair and renovation of campus buildings, facilities, and infrastructure at Jackson State University.

Creates a special "2019 Jackson State University Repair and Renovation Fund" within the State Treasury to receive bond proceeds and disburse funds for authorized projects.

Bonds may have maturity dates up to 25 years from issuance and may be issued at interest rates not exceeding limits set in Mississippi Code Section 75-17-101.

All bonds issued are general obligations of the State of Mississippi backed by full faith and credit, with the State Treasurer required to pay any deficiencies from general treasury funds if appropriated amounts are insufficient.

No bonds may be issued under this authority after July 1, 2023; bonds and their income are exempt from all Mississippi state taxation.