MS SB2821

Authorizes the issuance of state general obligation bonds not to exceed $1,000,000 to fund construction, furnishing, and equipping of a headquarters building for the Fannie Lou Hamer Cancer Foundation in Ruleville, Mississippi.

Creates a special fund called the "2013 Fannie Lou Hamer Cancer Foundation Headquarters Construction Fund" within the State Treasury to receive bond proceeds and disburse funds under direction of the Department of Finance and Administration.

Grants the State Bond Commission authority to determine bond terms, including interest rates (within statutory limits), maturity dates (not exceeding 25 years), and sale methods, with signatures by commission officials required on all bonds.

Pledges the full faith and credit of the State of Mississippi to repay the bonds, with any funding shortfalls covered from the State Treasury; bonds are exempt from state taxation and qualify as legal investments for fiduciaries and financial institutions.

Directs any remaining funds in the special fund after project completion to be applied toward debt service on the bonds as determined by the State Bond Commission.