MS SB2452

Authorizes the issuance of state general obligation bonds up to $4,500,000 for repairing, renovating, and refurbishing the E.E. Bass Cultural Arts Center in Greenville, Mississippi.

Creates the "2018 E.E. Bass Cultural Arts Center Fund" within the State Treasury to receive bond proceeds and disburse funds under direction of the Department of Finance and Administration.

Grants the State Bond Commission authority to determine bond terms including interest rates (not to exceed limits in Mississippi Code), maturity dates (up to 25 years), and whether to sell by public bid or negotiate sale.

Pledges the full faith and credit of Mississippi to repay bonds; any insufficient appropriated funds must be covered by the State Treasurer from unappropriated state funds.

Provides that bonds and their income are exempt from state taxation and may be validated in Chancery Court of the First Judicial District of Hinds County.