MS HB1674

Authorizes the State Bond Commission to issue up to $2,910,000 in general obligation bonds for construction, furnishing, and equipping of faculty and staff housing facilities at Alcorn State University.

Bonds may mature up to 25 years from issuance and cannot be issued after July 1, 2029, with interest rates not exceeding limits in Mississippi Code Section 75-17-101.

Creates the "2025 Alcorn State University Housing Fund" as a separate special fund in the State Treasury, with proceeds to be disbursed by the Department of Finance and Administration for the housing project costs.

Bonds are backed by the full faith and credit of the State of Mississippi, with principal and interest payable from appropriated funds or the State Treasury if appropriations are insufficient.

Bond proceeds and investment earnings are exempt from Mississippi state taxation, and unused funds or remaining amounts after project completion are applied to debt service on the bonds.