MS SB2968

Authorizes issuance of state general obligation bonds not to exceed $50,010,000 to fund the "2021 Ayers Restoration Fund" within the State Treasury.

Funds shall assist the Board of Trustees of State Institutions of Higher Learning in completing a privately-funded endowment for Jackson State University, Mississippi Valley State University, and Alcorn State University as required under the settlement of Ayers v. Musgrove.

Endowment funds must be used for program stabilization, program development, and expansion at the three beneficiary universities.

Bonds may be issued until July 1, 2025, with principal and interest payable over up to 25 years and full faith and credit of the State pledged to repayment.

Bond proceeds and income from bonds are exempt from Mississippi state taxation.