MS HB1588

Authorizes issuance of state general obligation bonds not to exceed $2,500,000 to fund preplanning, construction, furnishing, and equipping of the Marty Stuart Congress of Country Music in Philadelphia, Mississippi.

Creates a special "2020 Marty Stuart Congress of Country Music Fund" within the State Treasury, separate from the General Fund, with unexpended amounts and investment earnings retained in the fund.

Grants the State Bond Commission authority to prescribe bond form, determine sale method, advertise for bids, and sell bonds with maturities up to 25 years and interest rates not exceeding statutory limits.

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 unappropriated state funds.

Exempts bonds and income from all state taxation and establishes them as legal investments for trustees, fiduciaries, banks, and insurance companies organized under Mississippi law.