MS HB1635

Authorizes the issuance of state general obligation bonds not to exceed $500,000 to fund construction, furnishing, and equipping of the Marty Stuart Center for Country Music in Philadelphia, Mississippi.

Creates a special "2015 Marty Stuart Center for Country Music Fund" within the State Treasury, separate from the General Fund, with unexpended amounts and investment earnings retained in the fund.

Grants the State Bond Commission authority to issue bonds with terms up to 25 years maturity, determine sale method, and manage all aspects of bond issuance and sale.

Pledges the full faith and credit of the State of Mississippi to guarantee bond payment, with any shortfall covered by the State Treasurer from unappropriated funds.

Makes bonds exempt from state taxation and authorizes their use as legal investments for trustees, fiduciaries, banks, and insurance companies in Mississippi.