MS SB2141

Authorizes issuance of state general obligation bonds up to $15,000,000 to fund construction, furnishing, equipping, repairs, and renovations at the Mississippi Arts and Entertainment Center and to purchase real estate for the center.

Creates a special fund designated "2016 Mississippi Arts and Entertainment Fund" within the State Treasury to be managed separately from the General Fund, with unexpended amounts and interest earnings retained in the fund.

Grants the State Bond Commission authority to issue bonds with terms of up to 25 years, set interest rates not exceeding limits in Section 75-17-101, determine sale methods, and handle all administrative details of bond issuance and sale.

Pledges the full faith and credit of the State of Mississippi to guarantee bond payments, with any shortfalls paid by the State Treasurer from unappropriated state funds.

Establishes July 1, 2020 as the deadline for bond issuance and makes bond income exempt from Mississippi state taxation.