MS SB3040

Authorizes Mississippi to issue up to $570,000 in state general obligation bonds to fund repairs, renovations, upgrades, and infrastructure improvements to agricultural facilities at Alcorn State University

Creates the "2026 Alcorn State University Agricultural Facilities Envelope and Infrastructure Fund" as a special fund within the State Treasury to hold and disburse bond proceeds

Bonds may have a maximum maturity of 25 years from the date of issue and are backed by the full faith and credit of the State of Mississippi

Bonds and income from them are exempt from all state taxation and qualify as legal investments for trustees, fiduciaries, savings banks, trust companies, and insurance companies

No bonds may be issued under this act after July 1, 2030, with the act taking effect July 1, 2026