MS SB2191

Authorizes issuance of state general obligation bonds up to $100,000 to assist the McComb Main Street Association in establishing a McComb and Pike County Musical Heritage/Creative Arts Museum in McComb, Mississippi.

Creates a special fund designated "2018 McComb and Pike County Musical Heritage/Creative Arts Museum Fund" within the State Treasury to receive bond proceeds and disburse funds for museum establishment costs.

Authorizes the State Bond Commission to issue bonds with terms of up to 25 years, with interest rates not exceeding limits in Mississippi Code Section 75-17-101, and to determine the method and timing of bond sales.

Provides that bonds are general obligations of Mississippi backed by full faith and credit of the state, exempt from state taxation, and eligible as legal investments for trustees, fiduciaries, banks, and insurance companies.

Sets July 1, 2022 as the deadline for bond issuance and directs any remaining funds after project completion to pay debt service on the bonds.