MS HB449

Authorizes issuance of state general obligation bonds not to exceed $2,000,000 for repair and renovation of Rose E. McCoy Auditorium at Jackson State University, with no bonds issued after July 1, 2023.

Creates a special fund designated "2019 Jackson State University Rose E. McCoy Auditorium Repair and Renovation Fund" within the State Treasury to receive bond proceeds and disburse funds for project costs.

Bonds are full faith and credit obligations of the State of Mississippi, with principal and interest payable over a maturity period not exceeding 25 years, at interest rates not to exceed limits set in Mississippi Code Section 75-17-101.

State Bond Commission authorized to manage bond issuance, prescribe bond form, determine sales method, advertise and accept bids, and pay all incident costs from bond proceeds.

Upon project completion or abandonment, remaining fund amounts shall be applied to pay bond debt service; bond income is exempt from all state taxation.