MS HB1656

Authorizes the State Bond Commission to issue up to $500,000 in general obligation bonds to fund repair, renovation, expansion, and improvements to the Mississippi Aviation Heritage Museum in Gulfport.

Creates the "2023 Mississippi Aviation Heritage Museum Fund" within the State Treasury to receive bond proceeds and disburse funds for the authorized museum project costs.

Bonds shall not exceed 25 years maturity, with interest rates complying with Mississippi Code Section 75-17-101, and are backed by the full faith and credit of the State of Mississippi.

Bond proceeds and any investment earnings are tax-exempt in Mississippi and may be used for debt service if the museum project is completed, abandoned, or cannot be completed by the deadline.

No bonds may be issued after July 1, 2027, and the act becomes effective July 1, 2023.