MS HB492

Authorizes issuance of up to $2,000,000 in state general obligation bonds to fund construction, furnishing, and equipping of a new building and related facilities for the School of Public Health at Jackson State University.

Creates a special fund designated "2019 Jackson State University School of Public Health Construction Fund" within the State Treasury to receive bond proceeds and manage disbursements for the project.

Bonds may not be issued after July 1, 2023, and shall mature within 25 years from date of issue, with interest rates not exceeding limits set in Mississippi Code Section 75-17-101.

Bonds are general obligations of the State of Mississippi backed by the full faith and credit of the state; any remaining funds after project completion shall be applied to debt service on the bonds.

State Bond Commission serves as issuing agent with authority to prescribe bond forms, determine sale methods, advertise for bids, and conduct sales; bond proceeds are exempt from state taxation.