MS HB1538

Authorizes issuance of state general obligation bonds not to exceed $2,255,000 to fund repairs, renovations, upgrades, and improvements to the Petal School District's Central Office building and related facilities and grounds.

Creates a special fund designated "2023 Petal School District Central Office Building Improvements Fund" within the State Treasury to receive bond proceeds and disburse funds for the authorized projects.

Bonds may mature up to 25 years from date of issue at interest rates not exceeding limits set in Mississippi Code Section 75-17-101, with full faith and credit of the state pledged for payment.

State Treasurer and Department of Finance and Administration authorized to certify necessity for bonds and issue warrants to pay principal, premium, and interest when due.

No bonds may be issued under this act after July 1, 2027; act takes effect July 1, 2023.