MS SB2218

Authorizes issuance of state general obligation bonds not to exceed $4,500,000 to fund repairs, renovations, and refurbishing of the E.E. Bass Cultural Arts Center in Greenville, Mississippi, and for property purchase at the center.

Creates the "2022 E.E. Bass Cultural Arts Center Fund" as a separate special fund within the State Treasury to receive bond proceeds and disburse funds for the project costs.

Bonds may mature up to 25 years from issuance and bear interest at rates not exceeding limits set by Mississippi Code Section 75-17-101; no bonds may be issued after July 1, 2026.

Pledges the full faith and credit of the State of Mississippi to secure the bonds; the State Treasurer must certify necessity for payment warrants and the Department of Finance and Administration shall issue warrants to pay principal and interest as due.

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