House Bill 382 Summary

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

• Creates the "2020 Mississippi Telecommunication Conference and Training Center Fund" as a separate special fund within the State Treasury to receive bond proceeds and disburse funds for project costs.

• Bonds shall mature within 25 years from date of issue, with interest rates not to exceed limits in Mississippi Code Section 75-17-101, and no bonds may be issued after July 1, 2024.

• Pledges the full faith and credit of the State of Mississippi to guarantee payment of principal and interest, with any deficiencies paid by the State Treasurer from general treasury funds.

• Bonds and their income are exempt from all Mississippi state taxation and may be validated through the Chancery Court of the First Judicial District of Hinds County.