Bill > SB2122

This bill authorizes the State of Mississippi to issue up to $300,000 in general obligation bonds to help fund repairs and renovations of the Triangle Cultural Center located in Yazoo City, specifically including work on the Museum of the Yazoo Historical Society. The State Bond Commission will manage the bond issuance process, with bonds to be repaid using the state's full faith and credit and maturing no later than 25 years from their issue date. A special "2025 Triangle Cultural Center Repair and Renovation Fund" will be created in the state treasury to receive and manage the bond proceeds, with funds to be disbursed by the Department of Finance and Administration for the specified renovation purposes. The bonds will be exempt from state taxation, can be sold through public bidding or negotiated sale, and will carry an interest rate not exceeding legal limits. If legislative appropriations are insufficient to pay the bond's principal and interest, the State Treasurer will cover any deficiency from unappropriated state funds. The bill includes provisions for bond validation, investment eligibility, and specifies that no bonds can be issued after July 1, 2029. Any unused funds in the special fund will ultimately be applied to debt service on the bonds once the renovation project is completed or determined unable to be completed.

Budget and Finance

https://billstatus.ls.state.ms.us/2025/pdf/history/SB/SB2122.xml