MS SB3153

Authorizes issuance of $85,570,000 in state general obligation bonds for capital improvements at Mississippi institutions of higher learning, with funds allocated to nine universities and the IHL Education and Research Center for specific projects including facility repairs, renovations, construction, and equipment.

Authorizes issuance of $35,000,000 in state general obligation bonds for capital improvements at Mississippi community and junior colleges, with funds distributed among 15 colleges for facility construction, renovation, and equipment.

Authorizes issuance of $80,000,000 in state general obligation bonds for capital improvements at state agencies including the Departments of Corrections, Finance and Administration, Mental Health, Public Safety, Mississippi Military Department, and Department of Wildlife, Fisheries and Parks for facility repairs, renovations, and new construction.

Creates three separate special funds (2022 IHL Capital Improvements Fund, 2022 Community and Junior Colleges Capital Improvements Fund, and 2022 State Agencies Capital Improvements Fund) to receive and disburse bond proceeds, with unused monies to be applied to debt service after four years or project completion.

Requires the State Bond Commission to issue bonds by July 1, 2026, with bonds to mature within 25 years and pledges the full faith and credit of the State of Mississippi to guarantee payment of principal and interest.