MS SB2007

Authorizes the issuance of state general obligation bonds not to exceed $6,000,000 for repairing, renovating, and refurbishing the E.E. Bass Cultural Arts Center in Greenville, Mississippi.

Creates the "2015 E.E. Bass Cultural Arts Center Fund" within the State Treasury to receive bond proceeds and disburse funds under the direction of the Department of Finance and Administration.

Grants the State Bond Commission authority to determine bond terms including interest rates (not to exceed Mississippi Code limits), maturity dates (up to 25 years), redemption options, and sale method.

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

Specifies that remaining fund balances after project completion shall be applied to debt service on the bonds, with bond proceeds used solely for project costs and issuance expenses.