MS SB2938

Authorizes issuance of $3,000,000 in state general obligation bonds to fund construction, furnishing, and equipping of a children's museum in Meridian, Mississippi.

Creates a special "2018 Meridian Children's Museum Fund" within the State Treasury to receive bond proceeds and disburse funds for the museum project.

Bonds are payable over up to 25 years with interest rates not exceeding the limit in Mississippi Code Section 75-17-101 and may be redeemed before maturity at terms determined by the State Bond Commission.

Pledges the full faith and credit of Mississippi to pay bonds, with any shortfall in appropriated funds to be covered by the State Treasurer from unappropriated state funds.

Bonds and their income are exempt from Mississippi state taxation and qualify as legal investments for trustees, fiduciaries, banks, and insurance companies.