MS SB2838

Authorizes the issuance of up to $11,000,000 in state general obligation bonds to fund projects at Southwest Mississippi Community College.

Allocates $8,000,000 for construction of a new women's residence hall and $3,000,000 for campus infrastructure upgrades including wastewater treatment plant, water system, fiber, and emergency generators.

Creates the "2024 Southwest Mississippi Community College Improvements Fund" as a special fund in the State Treasury to receive bond proceeds and disburse funds for the specified projects.

Bonds may mature up to 25 years from issuance with interest rates not exceeding limits in Mississippi Code Section 75-17-101, and cannot be issued after July 1, 2028.

Bond proceeds and income are exempt from Mississippi state taxation, and the full faith and credit of the state is pledged to secure payment of principal and interest.