MS HB4059

Authorizes the State Bond Commission to issue up to $10,000,000 in general obligation bonds to fund construction of a new residence hall for Mississippi Delta Community College's Law Enforcement Training Academy.

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

Bonds may have maturity dates up to 25 years, interest rates not to exceed limits set in Mississippi Code Section 75-17-101, and may be sold through sealed bids or negotiated sale as determined by the Bond Commission.

Full faith and credit of the State of Mississippi is pledged to pay bond principal and interest; if legislative appropriations are insufficient, the State Treasurer must cover any deficiency from other state funds.

No bonds may be issued under this act after July 1, 2028; any remaining fund balance after project completion shall be applied to pay bond debt service.