MS SB2641

Authorizes issuance of general obligation bonds not exceeding $15,000,000 to fund construction, furnishing, and equipping of the Mississippi Civil Rights Museum and Museum of Mississippi History, plus a parking garage for these museums.

Bonds cannot be issued after July 1, 2020, and bonds for artifacts and exhibits are limited to no more than one-half of total costs for those purposes.

Creates a special fund called the "2016 Mississippi Civil Rights Museum and Museum of Mississippi History Construction Fund" to receive and disburse bond proceeds for project costs, with remaining balances applied to debt service.

Amends Section 31-7-13 of Mississippi Code to exempt contracts and agreements using funds from these authorized bonds from competitive bidding requirements.

Bonds are general obligations of Mississippi with full faith and credit pledged; principal and interest are tax-exempt, and bonds may mature up to 25 years from issue date at rates not exceeding limits in Section 75-17-101.