MS HB501

Authorizes the issuance of state general obligation bonds totaling up to $10,000,000 to fund repair, renovation, and improvements to the Mississippi Delta Community College Law Enforcement Training Academy in Sunflower County.

Creates a special fund designated "2025 Mississippi Delta Community College Law Enforcement Training Academy Fund" to receive bond proceeds and disburse them for the authorized projects.

Bonds shall mature within 25 years from date of issue, with interest rates not to exceed limits in Mississippi Code Section 75-17-101, and are backed by the full faith and credit of the State of Mississippi.

No bonds may be issued under this authorization after July 1, 2029; any unexpended fund balance remaining after project completion shall be applied to pay debt service on the bonds.

Bonds and their income are exempt from all state taxation and qualify as legal investments for trustees, banks, and insurance companies organized under Mississippi law.