MS SB2177

Authorizes issuance of state general obligation bonds not to exceed $2,750,000 for construction, furnishing, and equipping of two career technical buildings at the Greenville Higher Education Center.

Creates a special fund within the State Treasury designated "2021 Greenville Higher Education Center Career Tech Building Construction Fund" to receive bond proceeds and disburse funds for the project.

Bonds may be issued by July 1, 2025, with maturity dates not exceeding 25 years from issuance and interest rates subject to existing state limits.

Bonds are general obligations of Mississippi backed by the full faith and credit of the state; any remaining funds after project completion shall be applied to debt service on the bonds.

Proceeds from bonds and investment earnings are exempt from state taxation and may only be used for the specified construction project and costs incident to bond issuance.