MS HB208

Authorizes issuance of state general obligation bonds totaling $60,000,000 ($20,000,000 per institution) for repair, renovation, and upgrading of campus buildings, facilities, and infrastructure at Alcorn State University, Jackson State University, and Mississippi Valley State University

Creates a special fund titled "2024 Alcorn State University, Jackson State University and Mississippi Valley State University Improvements Fund" within the State Treasury to receive and disburse bond proceeds under direction of the Department of Finance and Administration with Board of Trustees approval

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

Unused monies must be accounted for within four years; any remaining funds after project completion shall be applied to debt service on the bonds, with administrative costs capped at 2% of project proceeds

Bond issuance authority expires July 1, 2028; act takes effect July 1, 2024