MS HB1589

Authorizes up to $25 million in state general obligation bonds for the Mississippi Arts and Entertainment Center in Meridian, with a cap of $5 million issued per fiscal year, to fund construction, furnishing, equipping, repairs, renovations, and land purchases

Authorizes up to $325,000 in state general obligation bonds for the Mississippi Craft Center in Ridgeland to provide matching funds for parking, roads, and multi-use trails, as well as repairs, renovations, and improvements

Creates the "2014 Mississippi Arts and Entertainment Fund" and "2014 Mississippi Craft Center Improvements Fund" as separate special funds within the State Treasury to receive and disburse bond proceeds

Bonds for both projects are backed by the full faith and credit of the State of Mississippi, may mature up to 25 years from issuance, and are exempt from all state taxation

Mississippi Craft Center bonds must be issued before July 1, 2018; the State Bond Commission serves as issuing agent for both bond programs