MS HB1351

Authorize issuance of state general obligation bonds up to $500,000 to fund repair, renovation, and restoration of the Rosenwald School in Marshall County, Mississippi.

Create a special fund designated "2023 Rosenwald School - Marshall County Repair and Renovation Fund" within the State Treasury to receive bond proceeds and disburse funds for project costs.

Bonds shall mature within 25 years from issuance, with interest rates not exceeding limits set in Mississippi Code Section 75-17-101, and may be issued by the State Bond Commission at any time before July 1, 2027.

Bonds are general obligations of the State of Mississippi backed by the full faith and credit of the state, exempt from state taxation, and eligible as legal investments for trustees, fiduciaries, banks, and insurance companies.

Any remaining funds after project completion shall be applied to pay debt service on the bonds; investment earnings on the fund shall also be used for bond debt service.