MS HB50

Authorizes issuance of state general obligation bonds not to exceed $2,250,000 to fund repairs and renovations at West Bolivar High School, Shaw High School, and Ray Brooks School in the West Bolivar Consolidated School District.

Allocates up to $750,000 per school for HVAC system repairs/replacements, water and sewer system repairs/replacements, and mold removal and remediation.

Creates the "2019 West Bolivar Consolidated School District Improvements Fund" as a separate state treasury fund to receive bond proceeds and disburse funds under Department of Finance and Administration direction.

Bonds shall mature within 25 years of issue, bear interest at rates not exceeding limits in Mississippi Code Section 75-17-101, and cannot be issued after July 1, 2023.

Bonds are general obligations of the State of Mississippi backed by full faith and credit; bond proceeds and income are exempt from state taxation.