Bill > HB368

This bill authorizes the State of Mississippi to issue general obligation bonds, which are essentially loans backed by the full faith and credit of the state, to fund significant repair and renovation projects at Mississippi Valley State University. Specifically, the bill allocates up to $49,597,000 for these projects, with specific amounts earmarked for the Charles Lackey Recreation Center, the Fielding L. Wright Math and Science Building, Leflore Residence Hall, Ratcliff Hall, and College Hall I. The State Bond Commission, a body responsible for managing state debt, will oversee the issuance and sale of these bonds, with the proceeds deposited into a dedicated fund. Any remaining funds after project completion will be used to pay off the bonds, and investment earnings on the fund will also go towards debt service. The bill also outlines the legal and financial procedures for issuing these bonds, ensuring they are negotiable instruments and legal investments, and exempt from state taxation. The authority to issue these bonds expires on July 1, 2029.

Budget and Finance

https://billstatus.ls.state.ms.us/2026/pdf/history/HB/HB0368.xml