MS SB2106

Authorizes the issuance of state general obligation bonds not to exceed $7,000,000 to fund construction, furnishing, and equipping of the Marty Stuart Center and Congress of Country Music Hall in Philadelphia, Mississippi.

Creates a special fund within the State Treasury designated as the "2013 Marty Stuart Center and Congress of Country Music Hall Fund" to receive and disburse bond proceeds for project costs.

Bonds shall mature within 25 years, bear interest at rates not exceeding limits in Mississippi Code Section 75-17-101, and are backed by the full faith and credit of the State of Mississippi.

Bonds are exempt from Mississippi state taxation and qualify as legal investments for trustees, fiduciaries, banks, and insurance companies in the state.

Remaining funds after project completion shall be used for debt service on the bonds; the State Treasurer shall issue warrants for principal and interest payments as they become due.