SB3315_H_Amend

***Adopted***

AMENDMENT No. 1 PROPOSED TO

Senate Bill NO. 3315

By Representative(s) Committee

Amend by striking all after the enacting clause and inserting in lieu thereof the following:

SECTION 1. As used in Sections 1 through 21 of this act, the following words shall have the meanings ascribed herein unless the context clearly requires otherwise:

(a) "Accreted value" of any bond means, as of any date of computation, an amount equal to the sum of (i) the stated initial value of such bond, plus (ii) the interest accrued thereon from the issue date to the date of computation at the rate, compounded semiannually, that is necessary to produce the approximate yield to maturity shown for bonds of the same maturity.

(b) "State" means the State of Mississippi.

SECTION 2. (1) (a) A special fund, to be designated as the "2000 IHL Repair and Renovation Fund," is created within the State Treasury. The fund shall be maintained by the State Treasurer as a separate and special fund, separate and apart from the General Fund of the state. Unexpended amounts remaining in the fund at the end of a fiscal year shall not lapse into the State General Fund, and any interest earned or investment earnings on amounts in the fund shall be deposited into such fund.

(b) Monies deposited into the fund shall be disbursed, in the discretion of the Department of Finance and Administration, to pay the costs of the following projects for agencies or their successors as hereinafter described:

NAME AMOUNT ALLOCATED

INSTITUTIONS OF HIGHER LEARNING

Alcorn State University............................$ 824,000.00

Roof repair and waterproofing

for campus facilities

and repair and renovation

of dormitories.............$ 824,000.00

Delta State University.............................$ 941,000.00

Roof repair and waterproofing

for campus facilities and

maintenance and repair of

mechanical systems.........$ 941,000.00

Jackson State University...........................$ 1,177,000.00

Roof repair and waterproofing

for campus facilities and

maintenance and repair of

mechanical systems.........$ 1,177,000.00

Mississippi University for Women...................$ 588,000.00

Roof repair and waterproofing

for campus facilities and

maintenance and repair of

mechanical systems.........$ 588,000.00

Mississippi State University.......................$ 1,706,000.00

Roof repair and waterproofing

for campus facilities and

maintenance and repair of

mechanical systems.........$ 1,706,000.00

Mississippi State University/

Mississippi Agriculture and

Forestry Experiment Station......................$ 271,000.00

Repair and renovation

of facilities..............$ 271,000.00

Mississippi Valley State University................$ 588,000.00

Roof repair and waterproofing

for campus facilities and

maintenance and repair of

mechanical systems.........$ 588,000.00

University of Mississippi..........................$ 1,588,000.00

Renovations necessary for

relocation of

campus physical plant......$ 1,588,000.00

University Medical Center..........................$ 388,000.00

Roof repair and waterproofing

for campus facilities and

maintenance and repair of

mechanical systems.........$ 388,000.00

University of Southern Mississippi.................$ 1,058,000.00

Roof repair and waterproofing

for campus facilities,

maintenance and repair of

mechanical systems and

improvements to campus

technology infrastructure..$ 1,058,000.00

University of Southern Mississippi/

Gulf Park Campus...................................$ 388,000.00

Roof repair and waterproofing

for campus facilities and

maintenance and repair of

mechanical systems.........$ 388,000.00

University of Southern Mississippi/

Gulf Coast Research Laboratory.....................$ 130,000.00

Roof repair and waterproofing

for campus facilities and

maintenance and repair of

mechanical systems.........$ 130,000.00

Education and Research Center......................$ 353,000.00

Roof repair and waterproofing

for campus facilities and

maintenance and repair of

mechanical systems.........$ 353,000.00

TOTAL............................................$ 10,000,000.00

(2) Amounts deposited into such special fund shall be disbursed to pay the costs of projects described in subsection (1) of this section. If any monies in such special fund are not used within four (4) years after the date the proceeds of the bonds authorized under Sections 1 through 21 of this act are deposited into the special fund, then the institution of higher learning for which any unused monies are allocated under subsection (1) of this section shall provide an accounting of such unused monies to the commission. Promptly after the commission has certified, by resolution duly adopted, that the projects described in subsection (1) of this section shall have been completed, abandoned, or cannot be completed in a timely fashion, any amounts remaining in such special fund shall be applied to pay debt service on the bonds issued under Sections 1 through 21 of this act, in accordance with the proceedings authorizing the issuance of such bonds and as directed by the commission.

(3) The Department of Finance and Administration, acting through the Bureau of Building, Grounds and Real Property Management, is expressly authorized and empowered to receive and expend any local or other source funds in connection with the expenditure of funds provided for in this section. The expenditure of monies deposited into the special fund shall be under the direction of the Department of Finance and Administration, and such funds shall be paid by the State Treasurer upon warrants issued by such department, which warrants shall be issued upon requisitions signed by the Executive Director of the Department of Finance and Administration or his designee.

(4) Any amounts allocated to an institution of higher learning that are in excess of that needed to complete the projects at such institution of higher learning that are described in subsection (1) of this section may be used for general repairs and renovations of the institution of higher learning to which such amount is allocated.

(5) The Department of Finance and Administration, acting through the Bureau of Building, Grounds and Real Property Management, is authorized to preplan the following projects: (a) renovation and repair of the Wise Center and the Colvard Student Union at Mississippi State University, (b) renovation and repair of the Education and Research Center in Jackson, Mississippi, and (c) renovation and repair of Guyton Hall and the old Education Building at the University of Mississippi. The projects authorized in this subsection (5) shall be in addition to the projects authorized in subsection (1) of this section.

SECTION 3. (1) (a) A special fund, to be designated as the "2000 Community and Junior Colleges Repair and Renovation Fund" is created within the State Treasury. The fund shall be maintained by the State Treasurer as a separate and special fund, separate and apart from the General Fund of the state. Unexpended amounts remaining in the fund at the end of a fiscal year shall not lapse into the State General Fund, and any interest earned or investment earnings on amounts in the fund shall be deposited to the credit of the fund. Monies in the fund may not be used or expended for any purpose except as authorized under Sections 1 through 21 of this act.

(b) Monies deposited into the fund shall be disbursed, in the discretion of the Department of Finance and Administration, to pay the costs of repair and renovation of existing facilities on community and junior college campuses as recommended by the State Board of Community and Junior Colleges. The amount to be expended at each community and junior college is as follows:

Coahoma . . . . . . . . . . . . . . . . $ 400,000.00

Copiah-Lincoln. . . . . . . . . . . . . 400,000.00

East Central. . . . . . . . . . . . . . 400,000.00

East Mississippi. . . . . . . . . . . . 400,000.00

Hinds . . . . . . . . . . . . . . . . . 400,000.00

Holmes. . . . . . . . . . . . . . . . . 400,000.00

Itawamba. . . . . . . . . . . . . . . . 400,000.00

Jones . . . . . . . . . . . . . . . . . 400,000.00

Meridian. . . . . . . . . . . . . . . . 400,000.00

Mississippi Delta . . . . . . . . . . . 400,000.00

Mississippi Gulf Coast. . . . . . . . . 400,000.00

Northeast Mississippi . . . . . . . . . 400,000.00

Northwest Mississippi . . . . . . . . . 400,000.00

Pearl River . . . . . . . . . . . . . . 400,000.00

Southwest Mississippi . . . . . . . . . 400,000.00

GRAND TOTAL . . . . . . . . . . . . . .$ 6,000,000.00

(2) Amounts deposited into such special fund shall be disbursed to pay the costs of projects described in subsection (1) of this section. If any monies in such special fund are not used within four (4) years after the date the proceeds of the bonds authorized under Sections 1 through 21 of this act are deposited into the special fund, then the community college or junior college for which any such monies are allocated under subsection (1) of this section shall provide an accounting of such unused monies to the commission. Promptly after the commission has certified, by resolution duly adopted, that the projects described in subsection (1) of this section shall have been completed, abandoned, or cannot be completed in a timely fashion, any amounts remaining in such special fund shall be applied to pay debt service on the bonds issued under Sections 1 through 21 of this act, in accordance with the proceedings authorizing the issuance of such bonds and as directed by the commission.

SECTION 4. (1) (a) A special fund, to be designated as the "2000 IHL Additional Repair and Renovation Fund," is created within the State Treasury. The fund shall be maintained by the State Treasurer as a separate and special fund, separate and apart from the General Fund of the state. Unexpended amounts remaining in the fund at the end of a fiscal year shall not lapse into the State General Fund, and any interest earned or investment earnings on amounts in the fund shall be deposited into such fund.

(b) Monies deposited into the fund shall be disbursed, in the discretion of the Department of Finance and Administration, to pay the costs of critical repair and renovation needs of state institutions of higher learning, with priority given to needs affecting accreditation matters.

(2) Amounts deposited into such special fund shall be disbursed to pay the costs of projects described in subsection (1) of this section. If any monies in such special fund are not used within four (4) years after the date the proceeds of the bonds authorized under Sections 1 through 21 of this act are deposited into the special fund, then the Department of Finance and Administration shall provide an accounting of such unused monies to the commission. Promptly after the commission has certified, by resolution duly adopted, that the projects described in subsection (1) of this section shall have been completed, abandoned, or cannot be completed in a timely fashion, any amounts remaining in such special fund shall be applied to pay debt service on the bonds issued under Sections 1 through 21 of this act, in accordance with the proceedings authorizing the issuance of such bonds and as directed by the commission.

SECTION 5. (1) (a) A special fund, to be designated as the "2000 IHL Capital Improvements Fund," is created within the State Treasury. The fund shall be maintained by the State Treasurer as a separate and special fund, separate and apart from the General Fund of the state. Unexpended amounts remaining in the fund at the end of a fiscal year shall not lapse into the State General Fund, and any interest earned or investment earnings on amounts in the fund shall be deposited into such fund.

NAME AMOUNT ALLOCATED

INSTITUTIONS OF HIGHER LEARNING

Alcorn State University............................$10,500,000.00

Constructing, equipping and

furnishing a business

school building suitable

to house an MBA program..........$10,500,000.00

Mississippi State University.......................$ 3,500,000.00

Continuation of Hand

Chemical Laboratory

repair and renovation............$ 3,500,000.00

Mississippi Valley State University................$ 850,000.00

Waste water treatment system

improvements.....................$ 850,000.00

University of Southern Mississippi/

Gulf Park Campus...................................$ 1,800,000.00

Repair, renovation, replacement,

and improvement of

campus infrastructure............$ 1,800,000.00

University of Southern Mississippi/

Gulf Coast Research Laboratory at Cedar

Point in Jackson County, Mississippi ..............$ 900,000.00

Matching funds for federal

infrastructure grant.............$ 900,000.00

TOTAL............................................$17,550,000.00

(2) Amounts deposited into such special fund shall be disbursed to pay the costs of projects described in subsection (1) of this section. If any monies in such special fund are not used within four (4) years after the date the proceeds of the bonds authorized under Sections 1 through 21 of this act are deposited into the special fund, then the institution of higher learning to which any unused monies are allocated under subsection (1) of this section shall provide an accounting of such unused monies to the commission. Promptly after the commission has certified, by resolution duly adopted, that the projects described in subsection (1) of this section shall have been completed, abandoned, or cannot be completed in a timely fashion, any amounts remaining in such special fund shall be applied to pay debt service on the bonds issued under Sections 1 through 21 of this act, in accordance with the proceedings authorizing the issuance of such bonds and as directed by the commission.

(5) Monies allocated to the University of Southern Mississippi/Gulf Coast Research Laboratory at Cedar Point in Jackson County, Mississippi, shall not be used for any project at such institution of higher learning if the property conveyed to the Board of Trustees of State Institutions of Higher Learning, for the use and benefit of the University of Southern Mississippi and the Gulf Coast Research Laboratory, in the Warranty Deed recorded in Book 1075, pages 545-546, in the Office of the Chancery Clerk of Jackson County, Mississippi, reverts to Jackson County, Mississippi.

(6) The Department of Finance and Administration, acting through the Bureau of Building, Grounds and Real Property Management, is authorized to preplan the construction of a classroom facility at the University Medical Center. The project authorized in this subsection (6) shall be in addition to the projects authorized in subsection (1) of this section.

SECTION 6. (1) The commission, at one time, or from time to time, may declare by resolution the necessity for issuance of general obligation bonds of the State of Mississippi to provide funds for all costs incurred or to be incurred for the purposes described in Sections 2, 3, 4 and 5 of this act. Upon the adoption of a resolution by the Department of Finance and Administration, declaring the necessity for the issuance of any part or all of the general obligation bonds authorized by this section, the Department of Finance and Administration shall deliver a certified copy of its resolution or resolutions to the commission. Upon receipt of such resolution, the commission, in its discretion, may act as the issuing agent, prescribe the form of the bonds, advertise for and accept bids, issue and sell the bonds so authorized to be sold and do any and all other things necessary and advisable in connection with the issuance and sale of such bonds. The total amount of bonds issued under Sections 1 through 21 of this act shall not exceed Thirty-seven Million Five Hundred Fifty Thousand Dollars ($37,550,000.00). The bonds authorized under Sections 1 through 21 of this act may not be issued after July 1, 2003.

(2) The proceeds of the bonds issued under Sections 1 through 21 of this act shall be deposited into the following special funds in not more than the following amounts:

(a) The 2000 IHL Repair and Renovation Fund created in Section 2 of this act $10,000,000.00.

(b) The 2000 Community and Junior Colleges Repair and Renovation Fund created in Section 3 of this act...$ 6,000,000.00. (c) The 2000 IHL Additional Repair and Renovation Fund created in Section 4 of this act...................$ 4,000,000.00.

(d) The 2000 IHL Capital Improvement Fund created in Section 5 of this act $17,550,000.00.

(3) Any investment earnings on amounts deposited into the special funds created in Sections 2, 3, 4 and 5 of this act shall be used to pay debt service on bonds issued under Sections 1 through 21 of this act, in accordance with the proceedings authorizing issuance of such bonds.

SECTION 7. The principal of and interest on the bonds authorized under Sections 1 through 21 of this act shall be payable in the manner provided in this section. Such bonds shall bear such date or dates, be in such denomination or denominations, bear interest at such rate or rates (not to exceed the limits set forth in Section 75-17-101, Mississippi Code of 1972), be payable at such place or places within or without the State of Mississippi, shall mature absolutely at such time or times not to exceed twenty-five (25) years from date of issue, be redeemable before maturity at such time or times and upon such terms, with or without premium, shall bear such registration privileges, and shall be substantially in such form, all as shall be determined by resolution of the commission.

SECTION 8. The bonds authorized by Sections 1 through 21 of this act shall be signed by the chairman of the commission, or by his facsimile signature, and the official seal of the commission shall be affixed thereto, attested by the secretary of the commission. The interest coupons, if any, to be attached to such bonds may be executed by the facsimile signatures of such officers. Whenever any such bonds shall have been signed by the officials designated to sign the bonds who were in office at the time of such signing but who may have ceased to be such officers before the sale and delivery of such bonds, or who may not have been in office on the date such bonds may bear, the signatures of such officers upon such bonds and coupons shall nevertheless be valid and sufficient for all purposes and have the same effect as if the person so officially signing such bonds had remained in office until their delivery to the purchaser, or had been in office on the date such bonds may bear. However, notwithstanding anything herein to the contrary, such bonds may be issued as provided in the Registered Bond Act of the State of Mississippi.

SECTION 9. All bonds and interest coupons issued under the provisions of Sections 1 through 21 of this act have all the qualities and incidents of negotiable instruments under the provisions of the Mississippi Uniform Commercial Code, and in exercising the powers granted by Sections 1 through 21 of this act, the commission shall not be required to and need not comply with the provisions of the Mississippi Uniform Commercial Code.

SECTION 10. The commission shall act as the issuing agent for the bonds authorized under Sections 1 through 21 of this act, prescribe the form of the bonds, advertise for and accept bids, issue and sell the bonds so authorized to be sold, pay all fees and costs incurred in such issuance and sale, and do any and all other things necessary and advisable in connection with the issuance and sale of such bonds. The commission is authorized and empowered to pay the costs that are incident to the sale, issuance and delivery of the bonds authorized under Sections 1 through 21 of this act from the proceeds derived from the sale of such bonds. The commission shall sell such bonds on sealed bids at public sale, and for such price as it may determine to be for the best interest of the State of Mississippi, but no such sale shall be made at a price less than par plus accrued interest to the date of delivery of the bonds to the purchaser. All interest accruing on such bonds so issued shall be payable semiannually or annually; however, the first interest payment may be for any period of not more than one (1) year.

Notice of the sale of any such bonds shall be published at least one time, not less than ten (10) days before the date of sale, and shall be so published in one or more newspapers published or having a general circulation in the City of Jackson, Mississippi, and in one or more other newspapers or financial journals with a national circulation, to be selected by the commission.

The commission, when issuing any bonds under the authority of Sections 1 through 21 of this act, may provide that bonds, at the option of the State of Mississippi, may be called in for payment and redemption at the call price named therein and accrued interest on such date or dates named therein.

SECTION 11. The bonds issued under the provisions of Sections 1 through 21 of this act are general obligations of the State of Mississippi, and for the payment thereof the full faith and credit of the State of Mississippi is irrevocably pledged. If the funds appropriated by the Legislature are insufficient to pay the principal of and the interest on such bonds as they become due, then the deficiency shall be paid by the State Treasurer from any funds in the State Treasury not otherwise appropriated. All such bonds shall contain recitals on their faces substantially covering the provisions of this section.

SECTION 12. Upon the issuance and sale of bonds under the provisions of Sections 1 through 21 of this act, the commission shall transfer the proceeds of any such sale or sales to the special funds created in Sections 2, 3, 4 and 5 of this act in the amounts provided for in Section 6(2) of this act. The proceeds of such bonds shall be disbursed solely upon the order of the Department of Finance and Administration under such restrictions, if any, as may be contained in the resolution providing for the issuance of the bonds.

SECTION 13. The bonds authorized under Sections 1 through 21 of this act may be issued without any other proceedings or the happening of any other conditions or things other than those proceedings, conditions and things which are specified or required by Sections 1 through 21 of this act. Any resolution providing for the issuance of bonds under the provisions of Sections 1 through 21 of this act shall become effective immediately upon its adoption by the commission, and any such resolution may be adopted at any regular or special meeting of the commission by a majority of its members.

SECTION 14. The bonds authorized under the authority of Sections 1 through 21 of this act may be validated in the Chancery Court of the First Judicial District of Hinds County, Mississippi, in the manner and with the force and effect provided by Chapter 13, Title 31, Mississippi Code of 1972, for the validation of county, municipal, school district and other bonds. The notice to taxpayers required by such statutes shall be published in a newspaper published or having a general circulation in the City of Jackson, Mississippi.

SECTION 15. Any holder of bonds issued under the provisions of Sections 1 through 21 of this act or of any of the interest coupons pertaining thereto may, either at law or in equity, by suit, action, mandamus or other proceeding, protect and enforce any and all rights granted under Sections 1 through 21 of this act, or under such resolution, and may enforce and compel performance of all duties required by Sections 1 through 21 of this act to be performed, in order to provide for the payment of bonds and interest thereon.

SECTION 16. All bonds issued under the provisions of Sections 1 through 21 of this act shall be legal investments for trustees and other fiduciaries, and for savings banks, trust companies and insurance companies organized under the laws of the State of Mississippi, and such bonds shall be legal securities which may be deposited with and shall be received by all public officers and bodies of this state and all municipalities and political subdivisions for the purpose of securing the deposit of public funds.

SECTION 17. Bonds issued under the provisions of Sections 1 through 21 of this act and income therefrom shall be exempt from all taxation in the State of Mississippi.

SECTION 18. The proceeds of the bonds issued under Sections 1 through 21 of this act shall be used solely for the purposes herein provided, including the costs incident to the issuance and sale of such bonds.

SECTION 19. The State Treasurer is authorized, without further process of law, to certify to the Department of Finance and Administration the necessity for warrants, and the Department of Finance and Administration is authorized and directed to issue such warrants, in such amounts as may be necessary to pay when due the principal of, premium, if any, and interest on, or the accreted value of, all bonds issued under Sections 1 through 21 of this act; and the State Treasurer shall forward the necessary amount to the designated place or places of payment of such bonds in ample time to discharge such bonds, or the interest thereon, on the due dates thereof.

SECTION 20. Of the monies allocated under Sections 1 through 21 of this act, no entity allocated any monies from the bonds authorized under Sections 1 through 21 of this act shall be eligible to receive said monies if the entity files a civil action or has a civil action pending against the State of Mississippi, or any agency, department, institution or instrumentality of the State of Mississippi, as of the date the commission adopts a resolution of intent to issue all or any part of the bonds authorized under Sections 1 through 21 of this act.

SECTION 21. Sections 1 through 21 of this act shall be deemed to be full and complete authority for the exercise of the powers herein granted, but Sections 1 through 21 of this act shall not be deemed to repeal or to be in derogation of any existing law of this state.

SECTION 22. As used in Sections 22 through 43 of this act, the following words shall have the meanings ascribed herein unless the context clearly requires otherwise:

(b) "State" means the State of Mississippi.

SECTION 23. (1) (a) A special fund, to be designated as the "2000 Department of Mental Health Capital Improvements and Repair and Renovation Fund" is created within the State Treasury. The fund shall be maintained by the State Treasurer as a separate and special fund, separate and apart from the General Fund. Unexpended amounts remaining in the fund at the end of a fiscal year shall not lapse into the State General Fund of the state and any interest earned or investment earnings on amounts in the fund shall be deposited into such fund.

(b) Monies deposited into the fund shall be disbursed, in the discretion of the Department of Finance and Administration, to pay the costs of the following projects for the State Department of Mental Health as hereinafter described:

(i) Phase I of construction, furnishing and equipping of new receiving units at Mississippi State

Hospital .$14,000,000.00.

(ii) Repair and renovation of department facilities with priority given to roofing, waterproofing, HVAC and infrastructure ...$ 5,000,000.00.

GRAND TOTAL...................................$19,000,000.00.

(2) Amounts deposited into such special fund shall be disbursed to pay the costs of projects described in subsection (1) of this section. If any monies in such special fund are not used within four (4) years after the date the proceeds of the bonds authorized under Sections 22 through 43 of this act are deposited into the special fund, then the Department of Mental Health shall provide an accounting of such unused monies to the commission. Promptly after the commission has certified, by resolution duly adopted, that the projects described in subsection (1) of this section shall have been completed, abandoned, or cannot be completed in a timely fashion, any amounts remaining in such special fund shall be applied to pay debt service on the bonds issued under Sections 22 through 43 of this act, in accordance with the proceedings authorizing the issuance of such bonds and as directed by the commission.

SECTION 24. (1) (a) A special fund, to be designated as the "Mississippi Schools for the Blind and Deaf Capital Improvements Fund" is created within the State Treasury. The fund shall be maintained by the State Treasurer as a separate and special fund, separate and apart from the General Fund of the state. Unexpended amounts remaining in the fund at the end of a fiscal year shall not lapse into the State General Fund, and any interest earned or investment earnings on amounts in the fund shall be deposited into such fund.

(b) Monies deposited into the fund shall be disbursed, in the discretion of the Department of Finance and Administration, to pay the costs of the following projects for the Mississippi Schools for the Blind and Deaf: (i) construction of a perimeter fence around the campuses, (ii) renovation of Saunders Hall and (iii) addition of an academic center to Building B, a combined classroom and laboratory building.

(2) Amounts deposited into such special fund shall be disbursed to pay the costs of the projects described in subsection (1) of this section. If any monies in such special fund are not used within four (4) years after the date the proceeds of the bonds authorized under Sections 22 through 43 of this act are deposited into the special fund, then the Mississippi Schools for the Blind and Deaf shall provide an accounting of such unused monies to the commission. Promptly after the commission has certified, by resolution duly adopted, that the projects described in subsection (1) of this section shall have been completed, abandoned, or cannot be completed in a timely fashion, any amounts remaining in such special fund shall be applied to pay debt service on the bonds issued under Sections 22 through 43 of this act, in accordance with the proceedings authorizing the issuance of such bonds and as directed by the commission.

SECTION 25. (1) (a) A special fund, to be designated as the "2000 Mississippi State-Owned Buildings Repair and Renovation Fund" is created within the State Treasury. The fund shall be maintained by the State Treasurer as a separate and special fund, separate and apart from the General Fund of the state. Unexpended amounts remaining in the fund at the end of a fiscal year shall not lapse into the State General Fund, and any interest earned or investment earnings on amounts in the fund shall be deposited into such fund.

(b) Monies deposited into the fund shall be disbursed, in the discretion of the Department of Finance and Administration, to pay the costs of repair and renovation of state-owned buildings and facilities.

(2) Amounts deposited into such special fund shall be disbursed to pay the costs of the projects described in subsection (1) of this section. If any monies in such special fund are not used within four (4) years after the date the proceeds of the bonds authorized under Sections 22 through 43 of this act are deposited into the special fund, then the Department of Finance and Administration shall provide an accounting of such unused monies to the commission. Promptly after the commission has certified, by resolution duly adopted, that the projects described in subsection (1) of this section shall have been completed, abandoned, or cannot be completed in a timely fashion, any amounts remaining in such special fund shall be applied to pay debt service on the bonds issued under Sections 22 through 43 of this act, in accordance with the proceedings authorizing the issuance of such bonds and as directed by the commission.

(4) The Department of Finance and Administration, acting through the Bureau of Building, Grounds and Real Property Management, is authorized to preplan the following projects: (a) construction of a new administration and operations building on state-owned land for the Department of Environmental Quality, (b) construction of a new administration and operations building on state-owned land for the Mississippi Emergency Management Agency and (c) construction and development of parking facilities for state agencies and departments in the vicinity of the New State Capitol. The projects authorized in this subsection (4) shall be in addition to the projects authorized in subsection (1) of this section.

SECTION 26. (1) (a) A special fund, to be designated as the "2000 Walter Sillers Building Repair and Renovation Fund" is created within the State Treasury. The fund shall be maintained by the State Treasurer as a separate and special fund, separate and apart from the General Fund of the state. Unexpended amounts remaining in the fund at the end of a fiscal year shall not lapse into the State General Fund, and any interest earned or investment earnings on amounts in the fund shall be deposited into such fund.

(b) Monies deposited into the fund shall be disbursed, in the discretion of the Department of Finance and Administration, to pay the costs of repair and renovation of the Walter Sillers Building.

(2) Amounts deposited into such special fund shall be disbursed to pay the costs of the projects described in subsection (1) of this section. If any monies in such special fund are not used within four (4) years after the date the proceeds of the bonds authorized under Sections 22 through 43 of this act are deposited into the special fund, then the Department of Finance and Administration shall provide an accounting of such unused monies to the commission. Promptly after the commission has certified, by resolution duly adopted, that the projects described in subsection (1) of this section shall have been completed, abandoned, or cannot be completed in a timely fashion, any amounts remaining in such special fund shall be applied to pay debt service on the bonds issued under Sections 22 through 43 of this act, in accordance with the proceedings authorizing the issuance of such bonds and as directed by the commission.

SECTION 27. (1) (a) A special fund, to be designated as the "2000 Mississippi ETV Improvements Fund" is created within the State Treasury. The fund shall be maintained by the State Treasurer as a separate and special fund, separate and apart from the General Fund of the state. Unexpended amounts remaining in the fund at the end of a fiscal year shall not lapse into the State General Fund, and any interest earned or investment earnings on amounts in the fund shall be deposited into such fund.

(b) Monies deposited into the fund shall be disbursed, in the discretion of the Department of Finance and Administration, to pay the costs of purchasing and installing antennas, towers, tower upgrades, tower sites, transmission lines, transmitters and any equipment useful in establishing or maintaining a digital transmission system to meet federal requirements.

(2) Amounts deposited into such special fund shall be disbursed to pay the costs of the projects described in subsection (1) of this section. If any monies in such special fund are not used within four (4) years after the date the proceeds of the bonds authorized under Sections 22 through 43 of this act are deposited into the special fund, then the Mississippi Authority for Educational Television shall provide an accounting of such unused monies to the commission. Promptly after the commission has certified, by resolution duly adopted, that the projects described in subsection (1) of this section shall have been completed, abandoned, or cannot be completed in a timely fashion, any amounts remaining in such special fund shall be applied to pay debt service on the bonds issued under Sections 22 through 43 of this act, in accordance with the proceedings authorizing the issuance of such bonds and as directed by the commission.

SECTION 28. (1) The commission, at one time, or from time to time, may declare by resolution the necessity for issuance of general obligation bonds of the State of Mississippi to provide funds for all costs incurred or to be incurred for the purposes described in Sections 23, 24, 25, 26 and 27 of this act. Upon the adoption of a resolution by the Department of Finance and Administration, declaring the necessity for the issuance of any part or all of the general obligation bonds authorized by this section, the Department of Finance and Administration shall deliver a certified copy of its resolution or resolutions to the commission. Upon receipt of such resolution, the commission, in its discretion, may act as the issuing agent, prescribe the form of the bonds, advertise for and accept bids, issue and sell the bonds so authorized to be sold and do any and all other things necessary and advisable in connection with the issuance and sale of such bonds. The total amount of bonds issued under Sections 22 through 43 of this act shall not exceed Thirty-nine Million Eight Hundred Fifty Thousand Dollars ($39,850,000.00). The bonds authorized under Sections 22 through 43 of this act may not be issued after July 1, 2003.

(2) The proceeds of the bonds issued pursuant to Sections 22 through 43 of this act shall be deposited into the following special funds in not more than the following amounts:

(a) The 2000 Department of Mental Health Capital Improvements and Repair and Renovation Fund created pursuant to Section 23 of this act............................$19,000,000.00.

(b) The 2000 Mississippi Schools for the Blind and Deaf Capital Improvements Fund created pursuant to Section 24 of this

act...............................................$ 5,000,000.00.

(c) The 2000 Mississippi State-Owned Buildings Repair and Renovation Fund created pursuant to Section 25 of this act...............................................$ 4,600,000.00.

(d) The 2000 Walter Sillers Building Repair and Renovation Fund created pursuant to Section 26 of this

act...............................................$ 7,750,000.00.

(e) The 2000 ETV Improvements Fund created pursuant to Section 27 of this act $ 3,500,000.00.

(3) Any investment earnings on amounts deposited into the special funds created in Sections 23, 24, 25, 26 and 27 of this act shall be used to pay debt service on bonds issued under Sections 22 through 43 of this act, in accordance with the proceedings authorizing issuance of such bonds.

SECTION 29. The principal of and interest on the bonds authorized under Sections 22 through 43 of this act shall be payable in the manner provided in this section. Such bonds shall bear such date or dates, be in such denomination or denominations, bear interest at such rate or rates (not to exceed the limits set forth in Section 75-17-101, Mississippi Code of 1972), be payable at such place or places within or without the State of Mississippi, shall mature absolutely at such time or times not to exceed twenty-five (25) years from date of issue, be redeemable before maturity at such time or times and upon such terms, with or without premium, shall bear such registration privileges, and shall be substantially in such form, all as shall be determined by resolution of the commission.

SECTION 30. The bonds authorized by Sections 22 through 43 of this act shall be signed by the chairman of the commission, or by his facsimile signature, and the official seal of the commission shall be affixed thereto, attested by the secretary of the commission. The interest coupons, if any, to be attached to such bonds may be executed by the facsimile signatures of such officers. Whenever any such bonds shall have been signed by the officials designated to sign the bonds who were in office at the time of such signing but who may have ceased to be such officers before the sale and delivery of such bonds, or who may not have been in office on the date such bonds may bear, the signatures of such officers upon such bonds and coupons shall nevertheless be valid and sufficient for all purposes and have the same effect as if the person so officially signing such bonds had remained in office until their delivery to the purchaser, or had been in office on the date such bonds may bear. However, notwithstanding anything herein to the contrary, such bonds may be issued as provided in the Registered Bond Act of the State of Mississippi.

SECTION 31. All bonds and interest coupons issued under the provisions of Sections 22 through 43 of this act have all the qualities and incidents of negotiable instruments under the provisions of the Mississippi Uniform Commercial Code, and in exercising the powers granted by this act, the commission shall not be required to and need not comply with the provisions of the Mississippi Uniform Commercial Code.

SECTION 32. The commission shall act as the issuing agent for the bonds authorized under Sections 22 through 43 of this act, prescribe the form of the bonds, advertise for and accept bids, issue and sell the bonds so authorized to be sold, pay all fees and costs incurred in such issuance and sale, and do any and all other things necessary and advisable in connection with the issuance and sale of such bonds. The commission is authorized and empowered to pay the costs that are incident to the sale, issuance and delivery of the bonds authorized under Sections 22 through 43 of this act from the proceeds derived from the sale of such bonds. The commission shall sell such bonds on sealed bids at public sale, and for such price as it may determine to be for the best interest of the State of Mississippi, but no such sale shall be made at a price less than par plus accrued interest to the date of delivery of the bonds to the purchaser. All interest accruing on such bonds so issued shall be payable semiannually or annually; however, the first interest payment may be for any period of not more than one (1) year.

The commission, when issuing any bonds under the authority of Sections 22 through 43 of this act, may provide that bonds, at the option of the State of Mississippi, may be called in for payment and redemption at the call price named therein and accrued interest on such date or dates named therein.

SECTION 33. The bonds issued under the provisions of Sections 22 through 43 of this act are general obligations of the State of Mississippi, and for the payment thereof the full faith and credit of the State of Mississippi is irrevocably pledged. If the funds appropriated by the Legislature are insufficient to pay the principal of and the interest on such bonds as they become due, then the deficiency shall be paid by the State Treasurer from any funds in the State Treasury not otherwise appropriated. All such bonds shall contain recitals on their faces substantially covering the provisions of this section.

SECTION 34. Upon the issuance and sale of bonds under the provisions of Sections 22 through 43 of this act, the commission shall transfer the proceeds of any such sale or sales to the special funds created in Sections 23, 24, 25, 26 and 27 of this act in the amounts provided for in Section 28(2) of this act. The proceeds of such bonds shall be disbursed solely upon the order of the Department of Finance and Administration under such restrictions, if any, as may be contained in the resolution providing for the issuance of the bonds.

SECTION 35. The bonds authorized under Sections 22 through 43 of this act may be issued without any other proceedings or the happening of any other conditions or things other than those proceedings, conditions and things which are specified or required by Sections 22 through 43 of this act. Any resolution providing for the issuance of bonds under the provisions of Sections 22 through 43 of this act shall become effective immediately upon its adoption by the commission, and any such resolution may be adopted at any regular or special meeting of the commission by a majority of its members.

SECTION 36. The bonds authorized under the authority of Sections 22 through 43 of this act may be validated in the Chancery Court of the First Judicial District of Hinds County, Mississippi, in the manner and with the force and effect provided by Chapter 13, Title 31, Mississippi Code of 1972, for the validation of county, municipal, school district and other bonds. The notice to taxpayers required by such statutes shall be published in a newspaper published or having a general circulation in the City of Jackson, Mississippi.

SECTION 37. Any holder of bonds issued under the provisions of Sections 22 through 43 of this act or of any of the interest coupons pertaining thereto may, either at law or in equity, by suit, action, mandamus or other proceeding, protect and enforce any and all rights granted under Sections 22 through 43 of this act, or under such resolution, and may enforce and compel performance of all duties required by Sections 22 through 43 of this act to be performed, in order to provide for the payment of bonds and interest thereon.

SECTION 38. All bonds issued under the provisions of Sections 22 through 43 of this act shall be legal investments for trustees and other fiduciaries, and for savings banks, trust companies and insurance companies organized under the laws of the State of Mississippi, and such bonds shall be legal securities which may be deposited with and shall be received by all public officers and bodies of this state and all municipalities and political subdivisions for the purpose of securing the deposit of public funds.

SECTION 39. Bonds issued under the provisions of Sections 22 through 43 of this act and income therefrom shall be exempt from all taxation in the State of Mississippi.

SECTION 40. The proceeds of the bonds issued under Sections 22 through 43 of this act shall be used solely for the purposes herein provided, including the costs incident to the issuance and sale of such bonds.

SECTION 41. The State Treasurer is authorized, without further process of law, to certify to the Department of Finance and Administration the necessity for warrants, and the Department of Finance and Administration is authorized and directed to issue such warrants, in such amounts as may be necessary to pay when due the principal of, premium, if any, and interest on, or the accreted value of, all bonds issued under Sections 22 through 43 of this act; and the State Treasurer shall forward the necessary amount to the designated place or places of payment of such bonds in ample time to discharge such bonds, or the interest thereon, on the due dates thereof.

SECTION 42. Of the monies allocated under Sections 22 through 43 of this act, no entity allocated any monies from the bonds authorized under Sections 22 through 43 of this act shall be eligible to receive said monies if the entity files a civil action or has a civil action pending against the State of Mississippi, or any agency, department, institution or instrumentality of the State of Mississippi, as of the date the commission adopts a resolution of intent to issue all or any part of the bonds authorized under Sections 22 through 43 of this act.

SECTION 43. Sections 22 through 43 of this act shall be deemed to be full and complete authority for the exercise of the powers herein granted, but Sections 22 through 43 of this act shall not be deemed to repeal or to be in derogation of any existing law of this state.

SECTION 44. Section 76, Chapter 522, Laws of 1999, is amended as follows:

Section 76. (1) The Mississippi Library Commission, at one time, or from time to time, may declare by resolution the necessity for issuance of general obligation bonds of the State of Mississippi to provide funds for the grant program authorized in Section 75 of this act. Upon the adoption of a resolution by the Mississippi Library Commission, declaring the necessity for the issuance of any part or all of the general obligation bonds authorized by this section, the Mississippi Library Commission shall deliver a certified copy of its resolution or resolutions to the commission. Upon receipt of such resolution, the commission, in its discretion, may act as the issuing agent, prescribe the form of the bonds, advertise for and accept bids, issue and sell the bonds so authorized to be sold and do any and all other things necessary and advisable in connection with the issuance and sale of such bonds. The total amount of bonds issued under Sections 74 through 90 of this act shall not exceed Fifteen Million Dollars ($15,000,000.00).

(2) Any investment earnings on amounts deposited into the special fund created in Section 75 of this act shall be used to pay debt service on bonds issued under Sections 74 through 90 of this act, in accordance with the proceedings authorizing issuance of such bonds.

SECTION 45. Section 2, Chapter 595, Laws of 1998, is amended as follows:

Section 2. (1) (a) A special fund, to be designated as the "1998 Capitol Facilities Improvements Fund" is created within the State Treasury. The fund shall be maintained by the State Treasurer as a separate and special fund, separate and apart from the General Fund of the state and investment earnings on amounts in the fund shall be deposited into the fund.

(b) Monies deposited into the fund shall be disbursed, in the discretion of the Department of Finance and Administration, to pay the cost of supplemental funding as needed for the Woolfolk Building renovation, addition, mechanical plant and garages authorized by Chapter 524, Laws of 1995; to pay the cost of renovation and repair of the Sillers Office Building; to pay the cost of constructing a new central mechanical and electrical service plant to support the Capitol Complex to be located near the Woolfolk Building; to pay the cost of constructing a pedestrian mall on the Sillers/Gartin block that extends south from the intersection of North Congress Street and George Street to High Street, such mall to have a width of not less than that of the right-of-way of North Congress Street; to pay the cost of planning through construction and bidding documents of a new Court Building to be located on state-owned property * * *; and during the course of the construction and relocation of various state agencies, to pay the cost of moving, reestablishment of computer networks communications, partition construction and other necessary expenses associated with the construction authorized by Chapter 524, Laws of 1995.

(c) All new buildings authorized by this act to be constructed or planned shall be designed to be aesthetically pleasing and compatible with state-owned buildings which are located nearby. To the extent practicable, all new buildings authorized by this act to be constructed or planned shall be of sustainable design and shall be energy efficient.

(2) Amounts deposited into the special fund shall be disbursed to pay the costs of projects described in subsection (1) of this section. Promptly after the commission has certified, by resolution duly adopted, that the projects described in subsection (1) shall have been completed, abandoned, or cannot be completed in a timely fashion, any amounts remaining in the special fund shall be applied to pay debt service on the bonds issued under this act, in accordance with the proceedings authorizing the issuance of the bonds and as directed by the commission.

(3) The Department of Finance and Administration, acting through the Bureau of Building, Grounds and Real Property Management, may receive and expend any local or other source funds in connection with the expenditure of funds provided for in this section. The expenditure of monies deposited into the special fund shall be under the direction of the Department of Finance and Administration, and the funds shall be paid by the State Treasurer upon warrants issued by the department, which warrants shall be issued upon requisitions signed by the Executive Director of the Department of Finance and Administration or his designee.

SECTION 46. This act shall take effect and be in force from and after its passage.

Further, amend by striking the title in its entirety and inserting in lieu thereof the following:

AN ACT TO AUTHORIZE THE ISSUANCE OF GENERAL OBLIGATION BONDS OF THE STATE OF MISSISSIPPI FOR THE PURPOSE OF RENOVATION AND REPAIR FOR INSTITUTIONS OF HIGHER LEARNING AND COMMUNITY AND JUNIOR COLLEGES; TO AUTHORIZE PREPLANNING FOR CERTAIN REPAIR AND RENOVATION PROJECTS; TO AUTHORIZE THE ISSUANCE OF GENERAL OBLIGATION BONDS OF THE STATE OF MISSISSIPPI FOR THE PURPOSE OF CAPITAL IMPROVEMENTS FOR INSTITUTIONS OF HIGHER LEARNING; TO AUTHORIZE PREPLANNING FOR CONSTRUCTION OF A CLASSROOM FACILITY AT THE UNIVERSITY MEDICAL CENTER; TO AUTHORIZE THE ISSUANCE OF STATE GENERAL OBLIGATION BONDS FOR THE PURPOSE OF CAPITAL IMPROVEMENTS AND REPAIR AND RENOVATION FOR THE DEPARTMENT OF MENTAL HEALTH; TO AUTHORIZE THE ISSUANCE OF STATE GENERAL OBLIGATION BONDS FOR THE PURPOSE OF CAPITAL IMPROVEMENTS FOR THE MISSISSIPPI SCHOOLS FOR THE BLIND AND DEAF; TO AUTHORIZE THE ISSUANCE OF STATE GENERAL OBLIGATION BONDS FOR THE PURPOSE OF REPAIR AND RENOVATION OF STATE-OWNED BUILDINGS; TO AUTHORIZE PREPLANNING FOR CERTAIN CAPITAL IMPROVEMENTS PROJECTS; TO AUTHORIZE THE ISSUANCE OF STATE GENERAL OBLIGATION BONDS FOR CERTAIN MISSISSIPPI ETV CAPITAL IMPROVEMENTS; TO AMEND SECTION 76, CHAPTER 522, LAWS OF 1999, TO INCREASE THE AMOUNT OF STATE GENERAL OBLIGATION BONDS THAT MAY BE ISSUED TO PROVIDE FUNDS FOR GRANTS MADE BY THE MISSISSIPPI LIBRARY COMMISSION TO PUBLIC LIBRARIES FOR THE PURPOSE OF MAKING CAPITAL IMPROVEMENTS; TO AMEND SECTION 2, CHAPTER 595, LAWS OF 1998, TO DELETE THE REQUIREMENT THAT PREPLANNING FOR A NEW JUSTICE FACILITY BE DONE FOR THE PURPOSE OF LOCATING SUCH FACILITY ON STATE LAND ADJACENT TO THE OLD CAPITOL GREEN; AND FOR RELATED PURPOSES.