MS HB1359

Authorizes the State Bond Commission to issue up to $650,000 in general obligation bonds to fund repairs, renovations, expansions, and improvements to the Dr. Timothy Burrow Multipurpose Building in Jonestown, Mississippi, along with construction of parking lots, sidewalks, and related excavation work.

Creates the "2023 Dr. Timothy Burrow Multipurpose Building Improvements Fund" within the State Treasury to receive bond proceeds and hold funds separately from the General Fund, with unexpended amounts and interest earnings retained in the fund.

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

Prohibits bond issuance after July 1, 2027, and directs that any remaining fund balance after project completion be applied to debt service on the bonds.

Bonds are exempt from state taxation and qualify as legal investments for trustees, fiduciaries, banks, and insurance companies in Mississippi.