MS SB2039

Authorizes issuance of up to $5,000,000 in state general obligation bonds to repair, renovate, and refurbish the E.E. Bass Cultural Arts Center in Greenville, Mississippi, and purchase property at the center.

Creates a special fund designated the "2017 E.E. Bass Cultural Arts Center Fund" within the State Treasury, maintained separately from the General Fund with unexpended amounts and investment earnings retained in the fund.

Grants the State Bond Commission authority to determine bond terms including interest rates (not exceeding statutory limits), maturity dates (up to 25 years), denominations, and sale methods through public bidding or negotiation.

Pledges the full faith and credit of the State of Mississippi for bond repayment; any insufficient legislative appropriations must be covered by the State Treasurer from unappropriated funds.

Exempts bonds and income from state taxation and authorizes use as legal investments for trustees, fiduciaries, banks, and insurance companies; allows bonds to secure public fund deposits.