MS SB2935

Authorizes issuance of up to $6,000,000 in state general obligation bonds to repair, renovate, and refurbish the E.E. Bass Cultural Arts Center in Greenville, Mississippi.

Creates a special "2014 E.E. Bass Cultural Arts Center Fund" within the State Treasury to receive bond proceeds and disburse funds for project costs under direction of the Department of Finance and Administration.

Grants the State Bond Commission authority to determine bond terms (interest rates not exceeding statutory limits, maturity up to 25 years, redemption options) and manage the sale of bonds through public bidding or negotiation.

Pledges the full faith and credit of the State of Mississippi to pay bond principal and interest, with any shortfalls covered by the State Treasurer from unappropriated state funds.

Provides that bond proceeds may be used solely for the specified project costs and incident expenses, with remaining funds after project completion applied to debt service on the issued bonds.