MS HB386

Authorizes issuance of up to $55,013,000 in state general obligation bonds for repair and renovation projects at Mississippi Valley State University, with issuance deadline of July 1, 2026.

Establishes "2022 Mississippi Valley State University Repair and Renovation Fund" as a special fund in the State Treasury to receive bond proceeds and manage disbursements for five specific projects: Student Union Building ($12,673,000), Charles Lackey Recreation Center ($9,065,000), Fielding L. Wright Math and Science Building ($11,090,000), Leflore Residence Hall ($11,395,000), and Ratcliff Hall ($10,790,000).

Designates the State Bond Commission as issuing agent with authority to prescribe bond terms, determine sale method, advertise for bids, and manage all aspects of bond issuance and sale.

Authorizes bonds with maturity up to 25 years, payable semiannually or annually, with principal and interest fully backed by state's full faith and credit pledge.

Bonds are exempt from state taxation and qualify as legal investments for trustees, banks, insurance companies, and public entities; remaining funds after project completion shall be applied to debt service on the bonds.