MS HB1675

Authorizes issuance of state general obligation bonds up to $700,000 to fund repair, renovation, upgrades, and improvements to agricultural facilities envelope and infrastructure at Alcorn State University.

Creates special fund designated "2025 Alcorn State University Agricultural Facilities Envelope and Infrastructure Fund" within State Treasury to receive bond proceeds and disburse funds for authorized projects.

Bonds may mature up to 25 years from date of issue, with interest rates not to exceed limits in Mississippi Code Section 75-17-101, and can be sold by public sealed bid or negotiated sale.

State Treasurer shall certify necessity for warrants to pay principal, interest, and accreted value of bonds when due, with full faith and credit of the State pledged as security.

Bonds cannot be issued after July 1, 2029; any remaining funds after project completion shall be applied to pay debt service on the bonds.