MS SB3093

Increases the maximum amount of grants to counties from the Local Governments Freight Rail Service Project Revolving Loan Fund from $8,000,000 to $11,000,000 for railroad grade crossing upgrades.

Increases the maximum amount of general obligation bonds that may be issued to fund local government freight rail projects from $18,000,000 to $21,000,000.

Authorizes the State Bond Commission to negotiate the sale of bonds for the Local Governments Freight Rail Service Project Revolving Loan Fund, in addition to the existing option of sealed bid public sale.

Removes the requirement that bond sale notices be published in a newspaper or financial journal with large national circulation; through June 30, 2014, notice publication is required only if sealed bids at public sale are used.

Effective date is July 1, 2011.