MS SB2105

Authorizes the issuance of state general obligation bonds not to exceed $100,000 for drainage improvements to Foster Creek in Amite County and the Town of Crosby, Mississippi, along a specific stretch between two points where Mississippi Highway 33 crosses the creek.

Creates a special fund called the "2017 Foster Creek Drainage Improvements Fund" within the State Treasury to receive bond proceeds and disburse funds for the drainage project costs.

Bonds must be issued by July 1, 2021, with a maturity period not to exceed 25 years and interest rates complying with Mississippi Code Section 75-17-101.

Pledges the full faith and credit of the State of Mississippi for repayment of the bonds, with any insufficiency in appropriated funds to be paid by the State Treasurer from other state funds.

Declares bonds and their income exempt from all state taxation and establishes them as legal investments for trustees, fiduciaries, banks, and insurance companies in Mississippi.