MS SB2972

Authorizes the State Bond Commission to issue up to $3,200,000 in general obligation bonds to fund construction of the Center for Science, Technology, Engineering and Math (STEM) Education and Advancement at the Mississippi Children's Museum in Jackson.

Creates a special fund designated the "2019 Center for STEM Education and Advancement Fund" within the State Treasury to receive bond proceeds and disburse funds for project costs under direction of the Department of Finance and Administration.

Bonds shall mature within 25 years from date of issue, bear interest rates not to exceed limits set in Mississippi Code Section 75-17-101, and be redeemable before maturity at terms determined by the commission.

Pledges the full faith and credit of the State of Mississippi to repay bonds; directs the State Treasurer to certify necessary funds to the Department of Finance and Administration for payment of principal and interest when due.

Prohibits bond issuance after July 1, 2023; declares bonds and income therefrom exempt from all taxation in Mississippi and legal investments for trustees, fiduciaries, and financial institutions.