MS SB2808

Amends Section 29-5-215 of Mississippi Code to specify that bond principal and interest for the Capitol Complex Improvement District shall be paid primarily from the Capitol Complex Improvement District Project Fund

Designates that at least 85% of deposited fund monies must be used for repayment of bonds issued for the Capitol Complex Improvement District until bonds are fully repaid

Allows up to 5% of fund deposits to reimburse the Department of Finance and Administration for personnel and administrative costs, and up to 10% to compensate the City of Jackson for police and fire protection services in the district

Authorizes the Department of Finance and Administration to incur debt up to $7,000,000 for implementing improvement projects, secured by sales tax revenue deposited to the fund, with repayment terms not exceeding 5 years

Provides that unexpended fund amounts do not lapse at fiscal year end and investment earnings are deposited back to the fund