This act is for the purpose of authorizing the Pearl River Valley Water Supply District to construct, maintain and operate a water treatment plant and regional water distribution system to ensure an adequate and sanitary water supply for the Jackson metropolitan area. This act may be cited as the “Metropolitan Area Water Supply Act”.
Words and phrases used in this article shall have meanings as follows: “Act” means the Metropolitan Area Water Supply Act (this article) as originally enacted or hereafter amended. “Board of directors” means the board of directors of the district. “Bonds” means revenue bonds, interim notes (having a maturity of three (3) years or less) and […]
The district, through its board of directors, in addition to any and all powers now or hereafter granted to it, is hereby empowered: To construct, operate and maintain a waterworks and water supply system in furtherance of the purposes of this act on land now owned or hereafter acquired by it for said purpose and […]
Payments by any public agency for water supplies from the waterworks or water supply system owned or operated by the district shall be made from the gross receipts or revenues of the public agency’s waterworks, water supply system, or of its combined waterworks, water supply, sewerage and sewage disposal systems, as may be prescribed in […]
Whenever a public agency shall have executed a contract pursuant to this act and the payments thereunder are to be made either wholly or partly from the revenues of the public agency’s waterworks, water supply system, sewerage system or sewage disposal system or a combination of such systems, the duty is hereby imposed on the […]
Any public agency may, pursuant to a duly adopted resolution of the governing authority of such public agency, enter into contracts with the district for the district to acquire, construct, lease, improve, extend, operate or maintain a waterworks or water supply system or any part thereof or interest therein for the furnishing of water to […]
The district shall have the power and is hereby authorized, from time to time, to issue bonds without notice and without an election on the question of the issuance thereof in such principal amounts as the district may determine to be necessary to provide sufficient funds for achieving the purposes of this act, including, without […]
The district may issue refunding bonds for the purpose of paying any of its bonds at or prior to maturity or upon acceleration or redemption. Refunding bonds may be issued at such time prior to the maturity or redemption of the refunded bonds as the district deems to be in the public interest, without notice […]
All bonds (other than refunding bonds, interim notes and certificate of indebtedness) issued pursuant to this act shall be validated as now provided by law in Sections 31-13-1 through 31-13-11, Mississippi Code of 1972; provided, however, that notice of such validation proceedings shall be addressed to the taxpayers of any public agency (i) which has […]
Bonds issued under the provisions of this act shall not be deemed to constitute, within the meaning of any constitutional or statutory limitation, a debt, liability or obligation of the state, nor shall such bonds constitute a pledge of the full faith and credit of the state or of the district, but shall be payable […]
The district shall have power in connection with the issuance of its bonds to: Covenant as to the use of any or all of its property, real or personal. Redeem the bonds, to covenant for their redemption and to provide the terms and conditions thereof. Covenant to charge rates, fees and charges sufficient to meet […]
The district may, in any authorizing resolution of the board of directors, trust indenture or other security instrument relating to its bonds, provide for the appointment of a trustee who shall have such powers as are provided therein to represent the registered owners of any issue of bonds in the enforcement or protection of their […]
The exercise of the powers granted by this act will be in all respects for the benefit of the people of the state, for their well-being and prosperity and for the improvement of their social and economic conditions, and the district shall not be required to pay any tax or assessment on any property owned […]
All bonds issued under the provisions of this act shall be legal investments for trustees, other fiduciaries, savings banks, trust companies and insurance companies organized under the laws of the State of Mississippi; and such bonds shall be legal securities which may be deposited with and shall be received by all public officers and bodies […]
The state hereby covenants with the registered owners of any bonds of the district that so long as the bonds are outstanding and unpaid the state will not limit or alter the rights and powers of the district under this act to conduct the activities referred to herein in any way pertinent to the interests […]
The provisions of this act are cumulative of other statutes now or hereafter enacted relating to the issuance of bonds; to waterworks or water supply systems; and to the design, construction, acquisition or approval of facilities for such purposes, and any public agency may exercise all presently held powers in the furtherance of this act.
If any clause, sentence, paragraph, section or part of the provisions of this act shall be adjudged by any court of competent jurisdiction to be invalid, such judgment shall not affect, impair or invalidate the remainder thereof directly involved in the controversy in which such judgment shall have been rendered.
