17-17-105 - Powers as to establishment of projects. - Mississippi Statutes

§ 17-17-105. Powers as to establishment of projects.
 

Upon compliance with procedures prescribed herein, and subject to the provisions of Sections 17-17-101 through 17-17-135, any municipality is hereby authorized and empowered: 
 

(a) To acquire, purchase, construct, operate, maintain and replace a project; 

(b) To enlarge, expand and improve an existing project; 

(c) To issue bonds for the purpose of defraying the cost of the projects contemplated by subsections (a) and (b) of this section; 

(d) To enter into agreements with any industry situated in the municipality to construct, operate, maintain, repair and replace a project; 

(e) To enter into a lease/sale with an industry for the lease and/or sale of a project to such industry; 

(f) To accept any state or federal grant that may be available to defray any part of the cost of a project; provided, however, that the agreements contemplated by subsections (d) and (e) of this section shall contain terms and conditions under which the industry shall pay to the municipality, or trustee, if any, for the bonds contemplated by subsection (c) of this section, such sums of money and at such periods as will equal the aggregate of principal, interest and redemption premium, if any, due on the bonds and also the costs, if any, to the municipality of operating, maintaining, insuring, repairing and replacing a project or portions thereof, including a reasonable amount for reserves. Provided further, that any agreement contemplated by subsection (e) of this section shall further contain terms and conditions pursuant to which a project shall be conveyed to the industry. 

(g) [Repealed]. 
 

Sources: Laws,  1981, ch. 527, § 3; Laws, 1990, ch. 586, § 1, eff from and after passage (approved April 9, 1990).