MS HB1671

Authorizes the issuance of state general obligation bonds not to exceed $5,000,000 to fund construction, furnishing, and equipping of a Hydroponics Research and Teaching Greenhouse at Alcorn State University.

Bonds may mature up to 25 years from issuance with interest rates not exceeding limits in Section 75-17-101, Mississippi Code of 1972, and the State Bond Commission determines specific terms, sale method, and redemption options.

Creates the "2025 Alcorn State University Hydroponics Research and Teaching Greenhouse Fund" as a special fund in the State Treasury to receive bond proceeds and disburse funds for project costs, with unexpended amounts not lapsing at fiscal year end.

Pledges the full faith and credit of the State of Mississippi to pay bonds, with the State Treasurer authorized to certify necessary warrants to the Department of Finance and Administration for debt service payments.

Bond issuance authority expires July 1, 2029; the bonds and their income are exempt from Mississippi state taxation and qualify as legal investments for trustees, banks, and insurance companies.