MS SB2711

Authorizes issuance of up to $50,010,000 in state general obligation bonds to assist the Board of Trustees of State Institutions of Higher Learning in funding a privately funded endowment for Jackson State University, Mississippi Valley State University, and Alcorn State University under the Ayers v. Musgrove settlement.

Creates the "2023 Ayers Restoration Fund" as a separate special fund within the State Treasury to receive bond proceeds and disburse funds for program stabilization, program development, and expansion at the three beneficiary universities.

Bonds may mature up to 25 years from issuance, with interest rates not exceeding limits in Mississippi Code Section 75-17-101, and no bonds may be issued after July 1, 2027.

Pledges the full faith and credit of the State of Mississippi for payment of principal and interest on the bonds, with any shortfall paid from the State Treasury; bonds are exempt from state taxation.

Provides standard bond issuance procedures through the State Bond Commission, including determination of bond terms, method of sale, and use of proceeds solely for the stated purposes and related costs.