MS SB2860

Authorizes the issuance of up to $5,000,000 in state general obligation bonds to fund repairs, renovations, and refurbishing of the E.E. Bass Cultural Arts Center in Greenville, Mississippi.

Creates a special "2016 E.E. Bass Cultural Arts Center Fund" within the State Treasury to receive bond proceeds and any unexpended amounts, with earnings deposited back into the fund.

Grants the State Bond Commission authority to determine bond terms including maturity (not exceeding 25 years), interest rates, sale method, and redemption options.

Designates bonds as general obligations of the State of Mississippi backed by full faith and credit, with any insufficiency in appropriated funds to be paid from the State Treasury.

Makes bonds exempt from Mississippi state taxation and establishes them as legal investments for trustees, fiduciaries, banks, and insurance companies in the state.