MS HB1519

Authorizes the State Bond Commission to issue up to $2,000,000 in general obligation bonds to fund repair, renovation, and improvements to Jackson Public School District buildings and facilities.

Creates a special "2022 Jackson Public School District Improvements Fund" within the State Treasury to receive bond proceeds and disburse funds for the authorized projects.

Bonds may be issued at any time until July 1, 2026, with a maximum maturity of 25 years and interest rates not exceeding limits in Mississippi Code Section 75-17-101.

All bonds are backed by the full faith and credit of the State of Mississippi, with any deficit in appropriated funds to be paid by the State Treasurer from unappropriated state funds.

Bond proceeds are exempt from state taxation, and unused funds after project completion shall be applied to pay debt service on the bonds.