MS HB58

Authorizes issuance of up to $1,300,000 in state general obligation bonds to fund the Delta Blues Museum in Clarksdale, Mississippi.

Bond proceeds shall be used for acquisition, storage, and relocation of artifacts; design, fabrication, and installation of permanent exhibits; and development of associated films and interactive components.

Creates a special "2020 Delta Blues Museum Fund" within the State Treasury to receive bond proceeds and hold unexpended amounts; interest earned on the fund shall remain in the fund.

Bonds may not be issued after July 1, 2024, and shall mature no later than 25 years from date of issue, with interest rates subject to state limits.

Full faith and credit of the State of Mississippi is pledged for bond repayment; bonds are exempt from state taxation and qualify as legal investments for trustees, fiduciaries, and financial institutions.