MS HB1563

Authorizes issuance of state general obligation bonds not to exceed $3,200,000 to fund construction of the Center for Science, Technology, Engineering and Math (STEM) Education and Advancement at the Mississippi Children's Museum in Jackson.

Establishes a special "2019 Center for STEM Education and Advancement Fund" within the State Treasury to receive bond proceeds and disburse funds at the discretion 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 Mississippi Code Section 75-17-101, and no bonds may be issued after July 1, 2023.

Pledges the full faith and credit of the State of Mississippi to guarantee payment of principal and interest, with any shortfall to be paid by the State Treasurer from available state funds.

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