MS SB2871

Authorizes issuance of state general obligation bonds not to exceed $4,540,000 to fund repairs and renovations for Americans with Disabilities Act (ADA) compliance at Alcorn State University buildings and facilities.

Creates a special fund designated "2025 Alcorn State University Improvements Fund" within the State Treasury to receive bond proceeds and disburse funds for the authorized projects.

Bonds may mature up to 25 years from date of issue with interest rates set by the State Bond Commission, backed by full faith and credit of the State of Mississippi.

Bond proceeds and investment earnings on the fund are exempt from state taxation and shall be used solely for project costs; any remaining balance after project completion shall be applied toward bond debt service.

No bonds may be issued under this authority after July 1, 2029, and the act takes effect July 1, 2025.