MS SB2894

Authorizes issuance of up to $8,100,000 in state general obligation bonds to fund renovation of a building for the Hinds Community College/City of Pearl Workforce Training Center in Pearl, Mississippi.

Creates a special fund designated the "2020 Hinds Community College/City of Pearl Workforce Training Center Fund" within the State Treasury to receive bond proceeds and disburse funds for project costs.

Bonds may be issued at any time until July 1, 2024, with a maximum maturity of 25 years and interest rates subject to Mississippi Code Section 75-17-101.

Pledges the full faith and credit of the State of Mississippi to guarantee bond repayment, with any shortfall covered by the State Treasurer from unappropriated state funds.

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