Bonds; authorize issuance for improvements at Alcorn State University, Jackson State University and Mississippi Valley State University.

HB 421 authorizes Mississippi to issue general obligation bonds to fund repairs, renovations, and upgrades for campus buildings, facilities, and infrastructure at Alcorn State University, Jackson State University, and Mississippi Valley State University. The bonds are backed by the full faith and credit of the state, with proceeds deposited into a dedicated fund for these specific university projects. If state appropriations are insufficient to cover bond payments, the state treasurer will cover the shortfall from unappropriated treasury funds. This bill directly affects the three public universities by providing capital for physical infrastructure improvements.