MS HB1256

Authorizes the State Bond Commission to issue up to $2,000,000 in general obligation bonds to fund construction, furnishing, and equipping of a new building and related facilities for the School of Public Health at Jackson State University.

Creates a special fund designated "2022 Jackson State University School of Public Health Construction Fund" within the State Treasury to receive bond proceeds and disburse funds for project costs.

Bonds may be issued at any time before July 1, 2026, with maturity not exceeding 25 years from date of issue and interest rates compliant with Mississippi Code Section 75-17-101.

Full faith and credit of the State of Mississippi is pledged for bond repayment; if legislative appropriations are insufficient, the State Treasurer shall pay deficiencies from other state funds.

Bonds are exempt from state taxation and may be legally invested by trustees, fiduciaries, banks, and insurance companies; remaining funds after project completion shall be applied to bond debt service.