MS SB2303

Authorizes the issuance of state general obligation bonds not to exceed $4,500,000 to repair, renovate, and refurbish the E.E. Bass Cultural Arts Center in Greenville, Mississippi.

Creates a special fund designated "2019 E.E. Bass Cultural Arts Center Fund" within the State Treasury to receive bond proceeds and disburse funds for project costs under direction of the Department of Finance and Administration.

Bonds may not be issued after July 1, 2023, and shall mature within 25 years from date of issue with interest rates not to exceed limits in Mississippi Code Section 75-17-101.

Pledges the full faith and credit of the State of Mississippi for bond repayment; if appropriated funds are insufficient, the State Treasurer shall pay deficiencies from other available state funds.

Bonds and interest income are exempt from all Mississippi state taxation and are legal investments for trustees, fiduciaries, banks, and insurance companies organized under state law.