MS HB1353

Authorizes the State Bond Commission to issue up to $8,000,000 in general obligation bonds to fund construction of a separate water system for Jackson State University to meet all of the university's water needs.

Bonds may have interest rates not exceeding limits set in Mississippi Code Section 75-17-101, mature within 25 years, and be sold through sealed bids or negotiated sale as determined by the commission.

Creates a special "2023 Jackson State University Water System Construction Fund" within the State Treasury to receive bond proceeds and disburse funds for project costs, with unexpended amounts rolled into debt service on the bonds.

Bonds are general obligations of the State of Mississippi backed by the state's full faith and credit, with the State Treasurer authorized to certify warrant necessity to the Department of Finance and Administration for principal and interest payments.

Bond issuance authority expires July 1, 2027, and the act takes effect July 1, 2023; bonds and their income are exempt from Mississippi state taxation.