MS SB2975

Authorizes issuance of up to $4,000,000 in state general obligation bonds to furnish, equip, remodel, repair, and renovate a portion of Metrocenter Mall in Jackson to house the Retro Metro/Hinds Community College Sector Training Plus Comprehensive One-Stop Workforce Training Center.

Creates a special fund designated "2019 Retro Metro/Hinds Community College Sector Training Plus Comprehensive One-Stop Workforce Training Center Fund" within the State Treasury to be maintained separately from the General Fund with unexpended amounts not lapsing.

Grants the State Bond Commission authority to issue bonds, determine sale method, advertise for bids, and manage all aspects of bond issuance and sale with no bonds to be issued after July 1, 2023.

Bonds constitute general obligations of Mississippi backed by the full faith and credit of the state, with principal and interest payable semiannually or annually, maturity not to exceed 25 years, and interest rates not to exceed limits in Mississippi Code Section 75-17-101.

Bond proceeds and income from bonds are exempt from all Mississippi state taxation, and the state must appropriate sufficient funds for debt service or the State Treasurer shall pay deficiencies from other available state funds.