MS HB1672

Authorizes the State Bond Commission to issue up to $5,000,000 in general obligation bonds to fund repairs and renovations for Americans with Disabilities Act (ADA) compliance at Alcorn State University buildings and facilities.

Bonds may mature up to 25 years from issuance and cannot be issued after July 1, 2029.

Creates a special fund called the "2025 Alcorn State University Improvements Fund" within the State Treasury to receive bond proceeds and disburse funds for the authorized projects.

Bonds are backed by the full faith and credit of the State of Mississippi; if legislative appropriations are insufficient, the State Treasurer must pay any deficiency from the General Treasury.

Bonds and income from bonds are exempt from all Mississippi state taxation; excess funds remaining after project completion shall be used for debt service on the bonds.