Legislature approves borrowing $196 million for projects.

By MississippI PEP Staff | April 2nd, 2013 at 6:39 am

BY: MississippI PEP Staff /

The MS PEP Staff consists of a number of volunteers across the state dedicated to sharing news and commentary important to conservatives.

Filed Under: Budget, Economic Development, Education, Legislature, Mississippi, Mississippi State House, Mississippi State Senate, MS State Government, Politics, Spending, State Bonds

(Senate Bill 2931) authorizes $208.55 million in new borrowing during fiscal 2014, which starts July 1. But, leaders subtracted $12.1 million in old bonds that they blocked from being issued, taking the total down to $196.45 million.

The measure includes $96.5 million for universities, including $31 million to help build a new medical school building at the University of Mississippi Medical Center in Jackson. Community and junior colleges would get $25 million, parceled out by a formula.

Thatโ€™s enough for institutions to get started on their needs, but not as much as they said they needed. The College Board said last summer that the top 10 projects on each of its campuses would cost a combined $684 million.

Read More