MS SB3094

Authorizes the issuance of state general obligation bonds up to $100,000 to fund repair, renovation, and refurbishing of the Performing Arts Center for the Montgomery County Arts Council located at 208 Summit Street in Winona, Mississippi.

Creates a special fund called the "2011 Montgomery County Performing Arts Center Fund" within the State Treasury to receive bond proceeds and disburse funds for the project under the Department of Finance and Administration's direction.

Grants the State Bond Commission authority to issue bonds with maturity dates not exceeding 25 years, determine sale methods, manage bond sales, and establish bond terms including interest rates and redemption provisions.

Pledges the full faith and credit of Mississippi to back the bonds; requires any remaining project funds to be applied to debt service once the project is completed or abandoned.

Exempts bonds and income from state taxation and authorizes their use as legal investments for trustees, fiduciaries, banks, and insurance companies in Mississippi.