MS HB1641

Authorizes issuance of state general obligation bonds not to exceed $1,900,000 to fund repair, renovation, expansion, and improvements to the Mississippi Museum of Natural Science in Jackson.

Creates a special fund called the "2018 Mississippi Museum of Natural Science Improvements Fund" to receive bond proceeds and disburse funds under direction of the Department of Finance and Administration.

Bonds may mature up to 25 years from date of issue with interest rates not exceeding limits in Section 75-17-101, Mississippi Code of 1972, and may be redeemed before maturity.

No bonds may be issued after July 1, 2022, and any remaining funds after project completion shall be applied to pay debt service on the bonds.

Bonds are general obligations backed by the full faith and credit of the State of Mississippi, are exempt from state taxation, and qualify as legal investments for trustees, fiduciaries, and financial institutions.