MS HB221

Authorizes issuance of state general obligation bonds not exceeding $49,597,000 for repair and renovation of five buildings at Mississippi Valley State University.

Allocates bond proceeds as follows: Charles Lackey Recreation Center ($9,805,000), Fielding L. Wright Math and Science Building ($11,992,000), Leflore Residence Hall ($12,324,000), Ratcliff Hall ($11,670,000), and College Hall I ($3,806,000).

Creates the "2024 Mississippi Valley State University Repair and Renovation Fund" as a separate treasury fund with unexpended amounts and investment earnings carried forward; remaining funds after project completion shall pay bond debt service.

Bonds mature in not more than 25 years, bear interest per state law limits, and are backed by the full faith and credit of the State of Mississippi.

No bonds may be issued after July 1, 2028; bond proceeds and interest income are exempt from state taxation.