MS HB1714

Authorizes issuance of state general obligation bonds not to exceed $100,000 to assist Alliance School for Workforce Development with repair and improvements to its building and related facilities in Jackson, Mississippi.

Creates the "2022 Alliance School for Workforce Development Fund" within the State Treasury to receive bond proceeds and disburse funds for the specified projects.

Bonds may mature up to 25 years from issue date, with interest rates not exceeding limits in Mississippi Code Section 75-17-101, and must be issued by July 1, 2026.

Full faith and credit of the State of Mississippi is pledged to repay bonds; if appropriated funds are insufficient, the State Treasurer shall pay deficiencies from the General Treasury.

Bond proceeds and investment earnings on the fund are exempt from state taxation and shall be applied to debt service if projects are completed, abandoned, or cannot be completed in a timely fashion.