Bill Text: MS HB1530 | 2010 | Regular Session | Engrossed
Bill Title: Community colleges; authorize to pledge taxes regarding auxiliary facilities.
Spectrum: Partisan Bill (Democrat 1-0)
Status: (Failed) 2010-03-02 - Died In Committee [HB1530 Detail]
Download: Mississippi-2010-HB1530-Engrossed.html
MISSISSIPPI LEGISLATURE
2010 Regular Session
To: Universities and Colleges; Ways and Means
By: Representative Watson
House Bill 1530
(As Passed the House)
AN ACT TO AUTHORIZE COUNTIES TO PLEDGE TAXES TO COMMUNITY OR JUNIOR COLLEGE DISTRICTS FOR THE PURPOSE OF FINANCING, CONSTRUCTING, RENOVATING, FURNISHING AND EQUIPPING AUXILIARY FACILITIES OF THE COMMUNITY COLLEGE DISTRICT; TO AMEND SECTION 37-29-131, MISSISSIPPI CODE OF 1972, TO INCREASE THE TERM OF LEASES; AND FOR RELATED PURPOSES.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MISSISSIPPI:
SECTION 1. The board of supervisors acting for a county, supervisors district or districts or an election district of such county, and the board of aldermen, city council or other like governing body acting for a city or town, are hereby authorized and empowered to levy ad valorem taxes on all the taxable property of such counties, cities, towns, supervisors district or election district for the purposes of raising funds for acquiring land for, and erecting, repairing, remodeling, maintaining, adding to, extending, improving, equipping or acquiring, including, but not limited to, acquiring by lease or lease purchase in accordance with Section 37-29-131, dormitories with or without dining facilities and for making additions and improvements thereto and to pledge such ad valorem taxes, whether or not actually levied, for the retirement of debt incurred either by or on behalf of such facilities and/or pursuant to agreements executed under the authority of the boards of trustees of community or junior college districts; however, any debt incurred by the pledge of taxes to retire debt incurred either by or on behalf of such facilities and/or pursuant to such agreements shall not be included in debt limits prescribed by Section 19-9-5. The amount levied for such purpose shall not exceed three (3) mills on the dollar in any one (1) year. Expenditures of said taxes for such additions and improvements shall not exceed in any fiscal year the total amount budgeted therefor by the board of trustees for the respective institutions affected. The tax levy authorized in this section shall be in addition to all other taxes now or hereafter authorized to be levied by such counties, cities, towns, supervisors districts or election district.
SECTION 2. Section 37-29-131, Mississippi Code of 1972, is amended as follows:
37-29-131. The board of trustees of any community or junior college is hereby authorized and empowered to enter into lease agreements or service contracts with any governmental agency or political subdivision, corporation, partnership, joint venture, or individual under which the college may acquire by lease, lease purchase or service contract for a primary term not to exceed thirty-five (35) years lands, buildings and related facilities which the board may determine necessary to provide additional facilities, services or educational opportunities to the college, its students, faculty and the community.
Any machinery, furnishings, fixtures and equipment for these facilities and use by the college may be acquired by lease or lease purchase provided that the primary term of such lease shall not exceed the estimated useful economic life of such machinery or equipment.
SECTION 3. Section 1 of this act shall be codified in Chapter 29, Title 37, Mississippi Code of 1972.
SECTION 4. This act shall take effect and be in force from and after its passage.
