MS SB3103

Increases the amount of state general obligation bonds authorized for a children's museum in Hinds County from $5.5 million to $6.1 million (an increase of $600,000).

Bonds may be used for construction, furnishing, and equipping of a children's museum facility at the old National Guard Armory on the State Fairgrounds in Jackson or another approved location.

Issuance of bonds is conditioned upon private sector or local/federal government providing $6.1 million in matching funds, which may include cash or in-kind contributions such as exhibit donations.

Bonds are general obligations of the State of Mississippi backed by full faith and credit, with debt service payable from legislative appropriations or state treasury funds if needed.

Bonds may have interest rates not exceeding statutory limits, mature within 25 years, and are exempt from Mississippi state taxation.