MS HB1352

Authorizes issuance of state general obligation bonds up to $50,000,000 to fund student housing projects at Jackson State University, including design, construction, renovation, furnishing, and equipping of facilities.

Creates a special fund designated "2023 Jackson State University Student Housing Fund" within the State Treasury to receive bond proceeds and disburse funds for approved housing projects selected by the Board of Trustees of State Institutions of Higher Learning in conjunction with Jackson State University.

Bonds may mature up to 25 years from date of issue with interest rates not exceeding limits in Section 75-17-101, Mississippi Code of 1972, and are backed by the full faith and credit of the State of Mississippi.

Bonds must be issued by July 1, 2027, and any remaining funds after project completion or abandonment shall be applied to pay debt service on the bonds.

Bond proceeds and income are exempt from all state taxation, and bonds are legal investments for trustees, fiduciaries, savings banks, trust companies, and insurance companies in Mississippi.