MS SB2373

Authorizes the State Bond Commission to issue up to $5,000,000 in general obligation bonds to fund construction of the Pearl River Community College Workforce Development Center in Hancock County.

Creates a special fund designated the "2019 Pearl River Community College Workforce Development Center Construction Fund" within the State Treasury to receive and disburse bond proceeds for project costs.

Bonds may be issued anytime before July 1, 2023, with a maximum maturity of 25 years and interest rates not exceeding limits set in Mississippi Code Section 75-17-101.

Pledges the full faith and credit of Mississippi to pay bond principal and interest; any appropriation shortfall shall be covered by the State Treasurer from general treasury funds.

Declares bond proceeds and income exempt from Mississippi taxation and establishes the bonds as legal investments for trustees, fiduciaries, banks, and insurance companies in the state.