MS HB1633

Authorizes the State Bond Commission to issue general obligation bonds not exceeding $5,000,000 to fund preplanning, construction, furnishing, and equipping the Marty Stuart Congress of Country Music in Philadelphia, Mississippi.

Creates a special fund designated "2020 Marty Stuart Congress of Country Music Fund" within the State Treasury to receive bond proceeds and disburse funds for project costs, with unexpended amounts applied to bond debt service upon project completion.

Bonds may mature up to 25 years from issuance, with interest rates subject to Mississippi Code limits, and may be sold through public bidding or negotiated sales as determined by the commission.

Pledges the full faith and credit of the State of Mississippi to guarantee bond payment, with any shortfall covered by the State Treasurer from general treasury funds.

Bonds and income are exempt from Mississippi state taxation and qualify as legal investments for trustees, fiduciaries, and financial institutions organized under state law.