MS HB1052

Authorizes the State Bond Commission to issue general obligation bonds up to $28,511,500 to fund construction, furnishing, and equipping of a new student housing building and related facilities at Mississippi Valley State University.

Bonds may mature up to 25 years from issuance, with interest rates not to exceed limits set in Mississippi Code Section 75-17-101, and must be issued by July 1, 2028.

Creates a special fund designated the "2024 Mississippi Valley State University Student Housing Building Construction Fund" to receive bond proceeds and disburse funds for project costs.

Bonds are general obligations backed by the full faith and credit of the State of Mississippi, with principal and interest payable from state appropriations or other available state funds if needed.

Upon project completion or abandonment, any remaining fund balance shall be applied to pay debt service on the bonds; investment earnings on the fund also support debt service payments.