Bill Text | History of Actions | Background | Title |
Description: Capital facility; payment on state bonds issued to construct must be included in budget of agency occupying it.
Bill Text: [Introduced]
| 1 | 01/08 (H) Referred To Appropriations | |
| 2 | 01/30 (H) Died In Committee |
| Effective date | July 1, 2001 | |
| Disposition | Dead | |
| Deadline | General Bill/Constitutional Amendment | |
| Revenue | No | |
| Vote type required | Majority |
House Committee:
Principal Author: McCoy
Code Sections: A 027-0103-0123, A 027-0103-0127, A 027-0103-0129
Title: AN ACT TO PROVIDE THAT IF STATE GENERAL OBLIGATION BONDS ARE ISSUED AFTER JUNE 30, 2001, TO PAY FOR THE COST OF THE NEW CONSTRUCTION OR RENOVATION OF A CAPITAL FACILITY THAT WILL BE OCCUPIED BY ONLY ONE STATE AGENCY AFTER THE CONSTRUCTION OR RENOVATION IS COMPLETED, THE AGENCY MUST INCLUDE IN ITS ANNUAL BUDGET REQUEST THE AMOUNT NEEDED TO PAY THE PRINCIPAL AND INTEREST THAT WILL BE DUE ON THE BONDS DURING THE NEXT FISCAL YEAR, AND THE LEGISLATURE MUST APPROPRIATE TO THE AGENCY SUFFICIENT FUNDS TO PAY THE PRINCIPAL AND INTEREST THAT WILL BE DUE ON THE BONDS DURING THE NEXT FISCAL YEAR; TO PROVIDE THAT THE PRECEDING PROVISION ALSO APPLIES TO STATE UNIVERSITIES AND COMMUNITY COLLEGES; TO PROVIDE THAT IF A CAPITAL FACILITY IS CONSTRUCTED OR RENOVATED FOR A UNIVERSITY OR A COMMUNITY COLLEGE, THE BOARD OF TRUSTEES OF STATE INSTITUTIONS OF HIGHER LEARNING OR THE STATE BOARD FOR COMMUNITY AND JUNIOR COLLEGES, AS APPROPRIATE, MUST INCLUDE THE AMOUNT OF THE PRINCIPAL AND INTEREST THAT WILL BE DUE ON THE BONDS IN THE ANNUAL BUDGET REQUEST OF THE BOARD ON BEHALF OF THAT UNIVERSITY OR COMMUNITY COLLEGE, AND THE LEGISLATURE MUST APPROPRIATE ANNUALLY TO THE BOARD SUFFICIENT FUNDS TO PAY THE PRINCIPAL AND INTEREST THAT WILL BE DUE ON THE BONDS ON BEHALF OF THAT UNIVERSITY OR COMMUNITY COLLEGE; TO REQUIRE STATE AGENCIES TO WHICH FUNDS ARE APPROPRIATED UNDER THE PROVISIONS OF THIS ACT FOR PAYMENT OF THE PRINCIPAL AND INTEREST DUE ON BONDS TO TRANSFER THE FUNDS TO THE STATE TREASURER WHEN REQUESTED FOR PAYMENT OF THAT PRINCIPAL AND INTEREST; TO AMEND SECTIONS 27-103-123, 27-103-127 AND 27-103-129, MISSISSIPPI CODE OF 1972, TO CONFORM TO THE PRECEDING PROVISIONS; AND FOR RELATED PURPOSES.
End Of Document
2001/html/History/HB/HB0586.htm