Bill > HB924

This bill authorizes the issuance of up to $500,000 in state general obligation bonds, which are essentially loans backed by the full faith and credit of the State of Mississippi, to fund the preplanning stages for repairs, renovations, upgrades, and improvements to the Walter Washington Administration and Classroom Building at Alcorn State University. The State Bond Commission, referred to as the "Commission," will manage the issuance and sale of these bonds, with the proceeds going into a dedicated fund called the "2026 Alcorn State University Walter Washington Administration and Classroom Building Preplanning Fund." This fund will be held separately in the State Treasury, and any remaining money after the preplanning is complete will be used to pay off the debt on the bonds. The bonds will mature within 25 years of their issuance and cannot be issued after July 1, 2030, with the act itself taking effect on July 1, 2026.

Budget and Finance

https://billstatus.ls.state.ms.us/2026/pdf/history/HB/HB0924.xml