MS HB1673

Authorizes issuance of state general obligation bonds not to exceed $10,000,000 to fund repair, renovation, and improvements to the K.L. Simmons Technology Building at Alcorn State University

Bonds shall mature within 25 years from date of issue, with interest rates not exceeding limits set forth in Mississippi Code Section 75-17-101

Creates a special fund designated "2025 Alcorn State University K.L. Simmons Technology Building Fund" within the State Treasury to receive bond proceeds and disburse them for the project

Full faith and credit of the State of Mississippi is pledged for bond payment; if legislative appropriations are insufficient, the State Treasurer shall pay any deficiency from unappropriated state funds

No bonds may be issued under this act after July 1, 2029; act takes effect July 1, 2025