MS HB1489

Authorizes issuance of state general obligation bonds totaling not more than $49,597,000 for repair and renovation projects at Mississippi Valley State University, with bonds to be issued by July 1, 2026.

Allocates specific funding caps for five campus projects: Charles Lackey Recreation Center ($9,805,000), Fielding L. Wright Math and Science Building ($11,992,000), Leflore Residence Hall ($12,324,000), Ratcliff Hall ($11,670,000), and College Hall I ($3,806,000).

Creates the "2022 Mississippi Valley State University Repair and Renovation Fund" within the State Treasury to hold bond proceeds, with unexpended amounts remaining in the fund at fiscal year-end rather than reverting to the General Fund.

Pledges the full faith and credit of the State of Mississippi to back the bonds, with any deficiency in appropriated funds for debt service to be paid from the State Treasury.

Exempts bonds and their income from state taxation and establishes them as legal investments for Mississippi trustees, fiduciaries, savings banks, trust companies, and insurance companies.