MS HB551

Authorizes issuance of up to $500,000 in state general obligation bonds to fund maintenance, renovations, improvements, and additions to the Mississippi Telecommunication Conference and Training Center in Jackson.

Creates a special "2019 Mississippi Telecommunication Conference and Training Center Fund" within the State Treasury to receive bond proceeds and disburse funds under discretion of the Department of Finance and Administration.

Bonds must be issued by July 1, 2023, with maturity not exceeding 25 years from issue date, and interest rates limited by Section 75-17-101 of Mississippi Code.

Pledges full faith and credit of the State of Mississippi to guarantee bond payments, with any shortfall covered by the State Treasurer from other state funds.

Remaining funds after project completion shall be applied to pay debt service on the bonds, and all bonds are exempt from state taxation.