MS SB2895

Authorizes the issuance of state general obligation bonds not to exceed $3,000,000 to fund repair, renovation, and improvements to buildings and facilities in Batesville, Mississippi to house the Concourse Workforce Training Center.

Creates a special fund designated the "2020 Concourse Workforce Training Center Fund" within the State Treasury to receive bond proceeds and disburse funds under direction of the Department of Finance and Administration.

Bonds may be issued at any time or from time to time until July 1, 2024, with a maturity period not exceeding twenty-five years from date of issue, bearing interest rates as determined by the State Bond Commission.

Bonds are general obligations of Mississippi with full faith and credit of the state pledged for payment; any remaining fund balance after project completion shall be applied to debt service on the bonds.

Income from the bonds and the bonds themselves are exempt from all taxation in Mississippi and qualify as legal investments for trustees, fiduciaries, banks, and insurance companies.