MS HB375

Authorizes issuance of state general obligation bonds not to exceed $15,385,000 to fund repair, renovation, expansion, and improvements to the David L. Whitney Arena Complex and Wellness Center at Alcorn State University.

Creates a special fund designated "2024 Alcorn State University David L. Whitney Arena Complex and Wellness Center Fund" within the State Treasury to receive and disburse bond proceeds for the authorized projects.

Bonds shall mature within 25 years, bear interest rates not exceeding limits in Section 75-17-101 of Mississippi Code, and are backed by the full faith and credit of the State of Mississippi.

Bond proceeds must be used solely for project costs including issuance and sale expenses; any remaining amounts after project completion shall be applied to debt service on the bonds.

No bonds may be issued under this act after July 1, 2028; the act becomes effective July 1, 2024.