MS SB3090

Authorizes the State Bond Commission to issue up to $600,000 in general obligation bonds to fund improvements to systems, equipment, and facilities for the Mississippi Authority for Educational Television.

Creates a special fund called the "2011 Mississippi Authority for Educational Television Improvements Fund" within the State Treasury to receive bond proceeds and disburse funds for authorized projects.

Bonds may not be issued after July 1, 2014, and shall mature within 25 years with interest rates not to exceed limits set in Mississippi Code Section 75-17-101.

Bonds are backed by the full faith and credit of the State of Mississippi, and any remaining fund balance after project completion must be applied to debt service on the bonds.

Bond proceeds and income are exempt from all Mississippi state taxation, and all bonds are legal investments for trustees, fiduciaries, banks, and insurance companies.