MS SB2051

Authorizes the State Bond Commission to issue general obligation bonds up to $500,000 to fund repair and renovation costs for the Oakes African American Cultural Center in Yazoo City, Mississippi.

Creates a special fund called the "2021 Oakes African American Cultural Center Repair and Renovation Fund" within the State Treasury to receive bond proceeds and disburse funds for the project.

Bonds must be issued by July 1, 2025, with a maximum maturity of 25 years and interest rates subject to state law limits.

Pledges the full faith and credit of the State of Mississippi to pay the bonds, requiring the State Treasurer to cover any shortfall from general treasury funds if appropriated funds are insufficient.

Exempts bonds and their income from state taxation and designates them as legal investments for trustees, banks, and insurance companies.