MS SB2076

Authorizes the issuance of state general obligation bonds not to exceed $100,000 to assist the McComb Main Street Association in establishing a McComb and Pike County Musical Heritage/Creative Arts Museum in McComb, Mississippi.

Creates the "2017 McComb and Pike County Musical Heritage/Creative Arts Museum Fund" within the State Treasury to receive bond proceeds and disburse funds for project costs under direction of the Department of Finance and Administration.

Grants the State Bond Commission authority to determine bond terms including interest rates, maturity (not exceeding 25 years), redemption options, and sale method; all costs of issuance and sale may be paid from bond proceeds.

Pledges the full faith and credit of the State of Mississippi to secure the bonds; any insufficient appropriated funds for debt service shall be paid by the State Treasurer from the General Treasury.

Requires all remaining fund balances after project completion or abandonment to be applied toward bond debt service; bonds and income are exempt from Mississippi state taxation and no bonds may be issued after July 1, 2021.