MS HB144

Authorizes issuance of general obligation bonds by the State Bond Commission up to $100,000,000 for public school capital improvements, with no bonds issued after July 1, 2027.

Creates the "2023 Public Schools Capital Improvements Fund" within the State Treasury to receive bond proceeds and distribute funds to school districts: 30% based on average daily attendance of all students and 70% based on average daily attendance of at-risk students.

Bonds mature within 25 years, bear interest at rates not exceeding limits in Section 75-17-101 Mississippi Code, and are general obligations backed by the full faith and credit of the State of Mississippi.

Bond proceeds are tax-exempt and legal investments for trustees, fiduciaries, savings banks, trust companies, and insurance companies in Mississippi; the State Treasurer certifies necessity for warrants to pay principal and interest when due.

Any remaining funds after project completion are applied to pay debt service on issued bonds, and investment earnings on fund deposits are used for debt service payments.