HB206

Mississippi HB206 authorizes the issuance of up to $100 million in bonds to fund public school improvements.

Mississippi HB206 authorizes the State Bond Commission to issue general obligation bonds up to $100 million to fund public school improvements. The bonds, maturing no later than July 1, 2030, will be exempt from state taxes. Thirty percent of the bond proceeds will be distributed to school districts based on average daily attendance, while seventy percent will go to districts with at-risk pupils. Investment earnings on the bond proceeds will be used to pay debt service. The State Treasurer will certify the need for warrants to pay bond principal and interest.