MS HB327

Authorizes issuance of state general obligation bonds not to exceed $10,000,000 to fund construction, furnishing, and equipping of a new dormitory and related facilities at Coahoma Community College in Clarksdale, Mississippi.

Creates the "2025 Coahoma Community College Dormitory Construction Fund" as a special fund within the State Treasury to receive bond proceeds and disburse funds for the dormitory project.

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

Full faith and credit of the State of Mississippi is pledged to guarantee payment of bonds; any shortfall in appropriated funds shall be paid by the State Treasurer from general treasury funds.

Bond proceeds are exempt from state taxation, and investment earnings on the fund shall be used for debt service on the issued bonds.