MS HB1252

Authorizes issuance of state general obligation bonds not to exceed $5,000,000 to fund Jackson State University's Science, Technology, Engineering and Mathematics (STEM) program.

Creates a special fund designated "2023 Jackson State University Science, Technology, Engineering and Mathematics (STEM) Program Fund" within the State Treasury to receive and disburse bond proceeds.

Bonds may have maturity dates up to 25 years from issue, with interest rates not exceeding limits in Section 75-17-101 of Mississippi Code, and may be called for redemption at the state's option.

Full faith and credit of the State of Mississippi is pledged to secure bond payment; State Treasurer must certify to Department of Finance and Administration for warrants to pay principal and interest when due.

Bond issuance authority expires July 1, 2027; bonds and their income are exempt from state taxation and qualify as legal investments for trustees, fiduciaries, and financial institutions.