MS SB2665

Allows school districts without urban areas (as classified by the U.S. Census Bureau) to issue bonds exceeding the 15% debt limitation, up to a maximum of 25% of assessed taxable property value.

Requires the school board to adopt a resolution finding that exceeding the debt limit is necessary for adequate educational facilities and provide notice to voters of the proposed bond issuance.

Mandates that the bond election notice inform qualified electors that the proposed bonds will exceed the 15% limit and explain the reasons for exceeding it.

Restricts rural districts (those without urban areas) to exceeding the debt limitation only once, unless they also have assessed valuation per pupil less than 75% of the statewide average.

Takes effect July 1, 2024.