MS HB1175

Authorizes the State Bond Commission to issue general obligation bonds not exceeding $3,900,000 to fund construction, furnishing, and equipping of a new Career and Technical Education building at Forrest County Agricultural High School, plus repair and renovation of the Agricultural Building and other campus facilities.

Bonds shall mature within 25 years from date of issue at interest rates not exceeding limits set in Mississippi Code Section 75-17-101, with principal and interest payable semiannually or annually as determined by the commission.

Creates the "2024 Forrest County Agricultural High School Career and Technical Education Building Fund" as a special fund in the State Treasury to receive bond proceeds and any investment earnings for disbursement toward project costs.

Bonds are full general obligations of Mississippi backed by the state's full faith and credit, with deficiencies paid by the State Treasurer from the General Fund if appropriated funds are insufficient.

No bonds may be issued under this act after July 1, 2028, and the act takes effect July 1, 2024.