MS HB1580

Authorizes issuance of state general obligation bonds not to exceed $8,100,000 to fund repair, renovation, furnishing, equipping, and improvements to buildings in Pearl, Mississippi housing the Rankin County Workforce Innovation and Training Center.

Creates a special fund designated "2020 Rankin County Workforce Innovation and Training Center Fund" within the State Treasury to receive bond proceeds and disburse funds for project costs.

Bonds may mature up to 25 years from issuance with interest rates not exceeding limits in Mississippi Code Section 75-17-101, and no bonds shall be issued after July 1, 2024.

State Bond Commission acts as issuing agent with authority to prescribe bond form, determine sale method, advertise for bids, and issue and sell authorized bonds.

Bonds are general obligations of Mississippi with full faith and credit pledged; bond proceeds and income are exempt from state taxation and are legal investments for trustees, fiduciaries, and financial institutions.