MS HB1526

Authorizes the State Bond Commission to issue up to $25,000 in general obligation bonds to assist the Amiable Arts Foundation in paying costs associated with increasing access to performing arts instruction for students.

Creates a special fund designated the "2023 Amiable Arts Foundation Fund" within the State Treasury to receive and disburse bond proceeds for the specified arts education purposes.

Bonds may mature in no more than 25 years from date of issue, with interest rates not exceeding limits set in Mississippi Code Section 75-17-101, and are secured by the full faith and credit of the State of Mississippi.

Prohibits bond issuance under this authority after July 1, 2027, and allows the State Bond Commission to declare by resolution that projects are completed, abandoned, or cannot be timely completed, at which point remaining fund amounts shall be applied to pay bond debt service.

Bonds and income earned on them are exempt from all taxation in Mississippi and are legal investments for fiduciaries, banks, insurance companies, and public entities in the state.