MS SB2834

Authorizes issuance of state general obligation bonds not to exceed $8,610,000 to fund repair, renovation, upgrades, and improvements to the Walter Washington Administration and Classroom Building at Alcorn State University.

Creates a special fund designated "2024 Alcorn State University Walter Washington Administration and Classroom Building Fund" to receive bond proceeds and disburse funds for the authorized projects.

Bonds may mature up to 25 years from issuance, bear interest at rates not exceeding limits in Mississippi Code Section 75-17-101, and are backed by the full faith and credit of the State of Mississippi.

No bonds may be issued under this authority after July 1, 2028, and any remaining fund balance after project completion shall be applied to debt service on the bonds.

Takes effect July 1, 2024.