MS SB2026

Authorizes Mississippi to issue up to $196,000 in general obligation bonds to assist the Rodney Foundation, Inc. with repair and renovation costs for the historic Rodney Presbyterian Church in the Rodney Center Historic District.

Creates a special "2018 Rodney Presbyterian Church Repair and Renovation Fund" within the State Treasury, maintained separately from the General Fund, with unexpended amounts and interest earnings remaining in the fund rather than lapsing.

Grants the State Bond Commission authority to issue, sell, and manage the bonds, which may mature up to 25 years from issuance date and must be issued by July 1, 2022.

Pledges the full faith and credit of the State of Mississippi to guarantee bond repayment, with any deficiency paid from the State Treasury; bonds are exempt from state taxation and qualify as legal investments for fiduciaries and financial institutions.

Directs the Department of Finance and Administration to disburse fund monies for project costs, with remaining balances applied to debt service after the commission certifies project completion or abandonment.