MS HB1432

Increases the maximum amount of state general obligation bonds authorized for the Mississippi Museum of Art in Jackson from a previous amount to $7,500,000.00.

Creates and maintains a separate "Mississippi Museum of Art Fund" within the State Treasury for acquiring land, planning, design, construction, renovation, and enhancement of the museum facility.

Authorizes the State Bond Commission to issue bonds, determine sale methods, prescribe bond forms, and manage all aspects of bond issuance and delivery.

Pledges the full faith and credit of the State of Mississippi to guarantee payment of bond principal and interest, with any deficiency paid from the State Treasury.

Bonds issued are exempt from state taxation and eligible as legal investments for trustees, fiduciaries, banks, and insurance companies in Mississippi.