MS SB2836

Authorizes issuance of state general obligation bonds not to exceed $11,917,500 to fund construction, furnishing, and equipping of a Science, Technology, Engineering, Agriculture and Math (STEAM) Outreach Center at Alcorn State University.

Bonds may have a maturity period up to 25 years, with interest rates not exceeding limits in Section 75-17-101 of Mississippi Code, and may be sold through sealed bids or negotiated sale by the State Bond Commission.

Creates a special fund designated "2024 Alcorn State University Science, Technology Engineering, Agriculture and Math (STEAM) Outreach Center Fund" to receive bond proceeds and disburse funds for project costs under direction of the Department of Finance and Administration.

Full faith and credit of the State of Mississippi is pledged to pay principal and interest on bonds, with any deficiency paid by the State Treasurer from unappropriated funds; bonds are exempt from state taxation and qualify as legal investments for trustees and fiduciaries.

No bonds may be issued under this act after July 1, 2028; act takes effect July 1, 2024.