MS HB225

Authorizes the State Bond Commission to issue up to $203,000 in general obligation bonds to fund repairs, renovations, furnishings, equipment, upgrades, and improvements to the Jackson Public School District's Career Development Center in Jackson, Mississippi.

Creates a special fund within the State Treasury designated as the "Jackson Public School District-Career Development Center Improvements Fund" to receive bond proceeds and disburse funds for the authorized projects.

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

All bonds and income therefrom are exempt from Mississippi taxation and may be sold by sealed bid at public sale or by negotiated sale as determined by the State Bond Commission.

No bonds may be issued under this authority after July 1, 2027, and any remaining fund balance after project completion shall be applied to pay debt service on the bonds.