MS SB2397

Authorizes issuance of up to $6,000,000 in state general obligation bonds for repairing, renovating, and refurbishing the Margaret Martin Performing Arts Center in Natchez, Mississippi, with a maximum of $2,000,000 per fiscal year and no bonds issued after July 1, 2025.

Creates the "2019 Margaret Martin Performing Arts Center Fund" as a separate special fund within the State Treasury to receive and disburse bond proceeds for the center's improvements.

Grants the State Bond Commission authority to prescribe bond terms, including interest rates (subject to statutory limits), maturity dates (up to 25 years), and redemption options, and to sell bonds through competitive bidding or negotiated sale.

Pledges the full faith and credit of Mississippi to repay bonds, with any deficiency paid from the State Treasury, and exempts bonds and their income from state taxation.

Authorizes the Department of Finance and Administration to receive and expend local or other source funds in connection with the project, with bond proceeds disbursed solely upon departmental order.