MS HB1838

Authorizes issuance of state general obligation bonds not to exceed $10,000,000 to fund repair, renovation, upgrades, and improvements to the Mississippi Delta Community College Law Enforcement Training Academy in Sunflower County.

Creates a special fund designated "2024 Mississippi Delta Community College Law Enforcement Training Academy Fund" within the State Treasury to receive bond proceeds and disburse funds for the authorized projects.

Bonds may have a maturity not to exceed 25 years from date of issue, with interest rates subject to Mississippi Code Section 75-17-101 limits, and may be sold through sealed bids or negotiated sale.

Full faith and credit of the State of Mississippi is pledged to pay principal and interest on bonds; bond income is exempt from state taxation and bonds are legal investments for fiduciaries and financial institutions.

No bonds may be issued under this authority after July 1, 2028; remaining fund amounts after project completion shall be applied to debt service on the bonds.