MS HB152

Authorizes the issuance of state general obligation bonds not to exceed $650,000 to fund repair, renovation, expansion, and improvements to the Dr. Timothy Burrow Multipurpose Building in Jonestown, Mississippi, plus parking lot and sidewalk construction and related excavation work.

Creates the "2024 Dr. Timothy Burrow Multipurpose Building Improvements Fund" as a special fund within the State Treasury to receive bond proceeds and disburse funds for the authorized projects.

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

Bond proceeds may be used only for the specified building improvements and project costs, including issuance expenses; remaining funds after project completion shall be applied to debt service on the bonds.

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