MS HB395

Authorizes issuance of up to $245,000 in state general obligation bonds to fund construction, furnishing, and equipping of the Mississippi Maritime Museum in Pascagoula, Mississippi

Creates the "2016 Mississippi Maritime Museum Improvements Fund" as a special fund within the State Treasury, with unexpended amounts and interest earnings remaining in the fund rather than lapsing to the General Fund

Bonds may not be issued after July 1, 2020, and must mature within 25 years from the date of issue

Pledges the full faith and credit of the State of Mississippi for repayment of the bonds, with the State Treasurer authorized to pay any deficiency from available Treasury funds

Bonds and income from them are exempt from all Mississippi state taxation and qualify as legal investments for trustees, fiduciaries, and financial institutions