MS SB2106

Authorizes the State Bond Commission to issue general obligation bonds not to exceed $500,000 to fund repair and renovation of the Oakes African American Cultural Center in Yazoo City, Mississippi.

Creates a special fund designated the "2024 Oakes African American Cultural Center Repair and Renovation Fund" within the State Treasury to receive bond proceeds and disburse funds for the project.

Bonds may be issued at any time or in installments, but no bonds may be issued after July 1, 2028, with maturity dates not exceeding 25 years from the date of issue.

Bonds are general obligations of the State of Mississippi backed by the full faith and credit of the state, with the State Treasurer authorized to issue warrants to pay principal and interest from state funds as needed.

Bond proceeds and any investment earnings on the fund shall be used exclusively for project costs, with remaining amounts after project completion applied toward debt service on the issued bonds.