MS HB1698

Authorizes issuance of up to $1,000,000 in state general obligation bonds to fund construction, furnishing, and equipping of the Mississippi Science and Industry Museum in Hattiesburg

Creates the "2016 Mississippi Science and Industry Museum Construction Fund" within the State Treasury to hold and disburse bond proceeds

Requires matching funds or in-kind donations from private and/or local sources equal to 50% of the bond amount before bonds can be issued

Bonds must be issued by July 1, 2022, with a maximum maturity of 25 years from date of issue

Bonds and income from them are exempt from all Mississippi state taxation and constitute legal investments for fiduciaries, savings banks, trust companies, and insurance companies