MS SB2333

Authorizes issuance of up to $4,000,000 in state general obligation bonds to repair, renovate, and refurbish the Cotesworth Culture and Heritage Center in Carroll County, Mississippi, and to purchase property at the center

Creates the "2012 Cotesworth Culture and Heritage Center Fund" as a special fund within the State Treasury to hold bond proceeds, with unexpended amounts and interest earnings remaining in the fund rather than lapsing to the General Fund

Bonds may have a maximum maturity of 25 years from date of issue and are backed by the full faith and credit of the State of Mississippi

Department of Finance and Administration, through the Bureau of Building, Grounds and Real Property Management, controls disbursement of funds and may receive additional local or other source funds for the project

Bonds and income from them are exempt from all Mississippi state taxation and qualify as legal investments for trustees, fiduciaries, savings banks, trust companies, and insurance companies