I've been scouring the CS for what governs Bound weapon spells, but I do not see the scripts that handle them.
Can someone point me in the right direction? I wish to make this Sword summonable as a lesser power, to an even greater degree, when I get there I desire to add additional effects to the sword when it comes to the player, like stunted Magicka or increased Fatigue use.

Bound weapon effects are not scripted. They are handled directly the the associated Magic Effects (under the Gameplay menu). To create a custom bound weapon spell, you will need to either appropriate one of the unused bound weapon effects (e.g. Bound Weapon Extra 10) or use the Oblivion Magic Extender to create a new effect. You then set the "Associated Item" field to your new sword, and add the effect to a new spell. You can also add Stunted Magicka or Damage Fatigue effects to the spell if you want.

excellent, yeah I was looking at those undereffects and was wondering what the heck those were lol. thankyou.