MS HB88

Authorizes issuance of state general obligation bonds not exceeding $5,000,000 to fund Jackson State University's Science, Technology, Engineering and Mathematics (STEM) program.

Creates a special fund called the "2020 Jackson State University Science, Technology, Engineering and Mathematics (STEM) Program Fund" within the State Treasury to receive and disburse bond proceeds.

Bonds may be issued at any time or from time to time until July 1, 2024, with maturity dates not to exceed 25 years from issuance date.

Full faith and credit of the State of Mississippi is pledged to guarantee repayment; if appropriated funds are insufficient, the State Treasurer must pay deficiencies from unappropriated state funds.

Bonds and investment earnings are exempt from state taxation and may be used for project costs, with any remaining funds after project completion applied toward debt service.