reglab/housing_qa huggingface dataset:
MS Code § 77-5-413 (2020)
2020 Mississippi Code|Title 77 - Public Utilities and Carriers|Chapter 5 - Electric Power|Article 9 - Local Governmental Power Development Under Laws of 1936|§ 77-5-413. Bond provisions

 The bonds may be issued in one or more series, may bear such date or dates, may mature at such time or times, not exceeding thirty (30) years from their respective dates, may be in such denomination or denominations, may be in such form, either coupon or registered, may carry such registration and conversion privileges, may be executed in such manner, may be payable in such medium of payment, at such place or places, may be sold or hypothecated in such blocks, may be subject to such terms of redemption, with or without premium, and may be declared or become due before the maturity date thereof, as may be provided by resolution or resolutions of the governing body of the municipality. Such bonds may be issued for money or property at public or private sale, for such price or prices, at such rate or rates of interest, and may be hypothecated in such manner as the governing body may determine, but the interest cost to maturity of the property (at the value determined by the governing body, which determination shall be conclusive) or the money received for any issue of said bonds, shall not exceed the rate of six percent (6%) per annum, payable semi-annually. Such bonds shall have all the qualities and incidents of negotiability. Such bonds shall not be subject to taxation. Pending the preparation, execution or delivery of definite bonds, interim receipts or certificates or temporary bonds may be delivered to the purchaser or purchasers of such bonds.   In case any of the officers whose signatures or countersignatures appear on such bonds shall cease to be such officers before the delivery of the bonds, such signatures and countersignatures shall nevertheless be valid and sufficient for all purposes, the same as though such officers had remained in office until the bonds had been delivered. Such bonds, when issued, shall be known as "electric plant bonds."
MS Code § 77-5-415 (2020)
2020 Mississippi Code|Title 77 - Public Utilities and Carriers|Chapter 5 - Electric Power|Article 9 - Local Governmental Power Development Under Laws of 1936|§ 77-5-415. Securing payment of bonds

 In order to secure the payment of any of the bonds issued pursuant to this article, and interest thereon, or in connection with such bonds, the governing body of any municipality shall have power as to such bonds, to the extent not inconsistent with the mandatory provisions of this article or the provisions of the election resolution:   To pledge the full faith and credit and unlimited taxing power of the municipality to the punctual payment of the principal of and interest on such bonds.   To pledge all or any part of the revenues derived from electric service.   To provide for the terms, form, registration, exchange, execution and authentication of such bonds.   To provide for the replacement of lost, destroyed, or mutilated bonds.   To covenant as to the use and disposition of the proceeds for the sale of such bonds.   To covenant as to the rates and charges of the electric plant.   To redeem such bonds, and to covenant for their redemption and to provide the terms and conditions thereof.   To covenant and prescribe as to what happenings or occurrences shall constitute "events of default" and the terms and conditions upon which any or all of such bonds shall become or may be declared due before maturity and as to the terms and conditions upon which such declaration and its consequences may be waived.   To covenant as to the rights, liabilities, powers and duties arising upon the breach by it of any covenant, condition, or obligation.   To vest in a trustee or trustees the right to receive all or any part of the income and revenue pledged and assigned to, or for the benefit of, the holder or holders of bonds issued under the provisions of this article, and to hold, apply and dispose of the same and the right to enforce any covenant made to secure or pay or in relation to the bonds; to execute and deliver a trust agreement or trust agreements which may set forth the powers and duties and the remedies available to such trustee or trustees and limiting the liabilities thereof and describing what occurrences shall constitute "events of default" and prescribing the terms and conditions upon which such trustee or trustees or the holder or holders of bonds of any specified amount or percentage may exercise such rights and enforce any and all such covenants and resort to such remedies as may be appropriate.   To make covenants other than, and in addition to, the covenants herein authorized, of like or different character, necessary or advisable to effectuate the purpose of this article.   To execute all instruments necessary or convenient in the exercise of the powers herein granted or in the performance of its covenants or duties.
MS Code § 77-5-417 (2020)
2020 Mississippi Code|Title 77 - Public Utilities and Carriers|Chapter 5 - Electric Power|Article 9 - Local Governmental Power Development Under Laws of 1936|§ 77-5-417. Rights and remedies of bondholders

 Any holder or holders of bonds, including a trustee or trustees for holders of such bonds, shall have the right, in addition to all other rights:   By mandamus or other suit, action or proceedings in any court of competent jurisdiction to enforce his or their rights against the municipality, the governing body thereof, the board of public utilities hereafter provided for in this article, and any other proper officer, agent or employee of any of them, including, but without limitation, the right to require the municipality, the governing body, the said board, and any proper officer, agent or employee of any of them, to assess, levy and collect taxes, and to fix and collect rates and charges adequate to carry out any agreement as to, or pledge of taxes or electric plant revenues, and to require the municipality, the governing body thereof, the said board and any officer, agent or employee of any of them to carry out any other covenants and agreements and to perform its and their duties under this article.   By action or suit in equity to enjoin any act or things which may be unlawful or a violation of the rights of such holder of bonds.
MS Code § 77-5-419 (2020)
2020 Mississippi Code|Title 77 - Public Utilities and Carriers|Chapter 5 - Electric Power|Article 9 - Local Governmental Power Development Under Laws of 1936|§ 77-5-419. Additional rights and remedies of bondholders may be conferred by resolution

 Any municipality shall have power by resolution of its governing body to confer upon any holder or holders of a specified amount or percentage of bonds, including a trustee or trustees for such holders, the right in the event of an "event of default" as defined in such resolution or as may be defined in any agreement with the holder or holders of such bonds or the trustee or trustees therefor:   By suit, action or proceedings in any court of competent jurisdiction to obtain the appointment of a receiver of the electric plant or any part or parts thereof. If such receiver be appointed he may enter and take possession of such electric plant or any part or parts thereof and operate and maintain the same, and collect and receive all revenues thereafter arising therefrom in the same manner as the municipality itself might do and shall deposit such moneys in a separate account or accounts and apply the same in accordance with the obligations of the municipality as the court shall direct.   By suit, action or proceeding in any court of competent jurisdiction to require the governing body of the municipality and/or the board to account as if it were the trustee of an express trust.   Any such resolution shall constitute a contract between the municipality and the holders of bonds of such issue.
MS Code § 77-5-421 (2020)
2020 Mississippi Code|Title 77 - Public Utilities and Carriers|Chapter 5 - Electric Power|Article 9 - Local Governmental Power Development Under Laws of 1936|§ 77-5-421. Debt limitations are inapplicable

 Bonds may be issued under this article notwithstanding and without regard to any limits or restriction on the amount or percentage of indebtedness or of outstanding obligations of any municipality contained in any law.
MS Code § 77-5-423 (2020)
2020 Mississippi Code|Title 77 - Public Utilities and Carriers|Chapter 5 - Electric Power|Article 9 - Local Governmental Power Development Under Laws of 1936|§ 77-5-423. Payment of preliminary expenses

 All expenses actually incurred by the governing body of any municipality in the making of surveys, estimates of cost and of revenues, employment of engineers, attorneys or other employees, the giving of notices, taking of options, selling of bonds, and all other preliminary expenses of whatever nature, which such governing body deems necessary in connection with or precedent to the acquisition or improvement of any electric plant and which it deems necessary to be paid prior to the issuance and delivery of the bonds issued pursuant to the provisions of this article, may be met and paid out of the general fund of said municipality not otherwise appropriated, or from any other available fund.   All such payments from the general or other funds shall be considered as temporary loans and shall be repaid immediately upon sale and delivery of the bonds, and claim for such repayment shall have priority over all other claims against the proceeds derived from the sale of such bonds.
MS Code § 77-5-425 (2020)
2020 Mississippi Code|Title 77 - Public Utilities and Carriers|Chapter 5 - Electric Power|Article 9 - Local Governmental Power Development Under Laws of 1936|§ 77-5-425. Board of public utilities; appointment and terms of members

 Any municipality, excepting those which have a population of less than two thousand (2,000), issuing bonds under the provisions of this article for the acquisition of an electric plant shall, and any municipality now or hereafter owning or operating an electric plant under this article or any other law may, appoint a board of public utilities (hereinafter called the "board").   The board shall be created in the following manner. At the time the governing body of a municipality issuing bonds under the provisions of this article determines that a majority of the qualified voters voting on the electric resolution have assented to the bond issue for the acquisition of an electric plant, the chief executive officer of the municipality shall, or if no such bonds are issued or if the municipality has a population of less than two thousand (2,000), then at any time he may, with the consent of the governing body of the municipality, appoint two (2) or four (4) men from among the property holders of such municipality who are residents of the municipality and have resided therein for not less than one (1) year next preceding the date of appointment to such board. No regular compensated officer or employee of a municipality shall be eligible for such appointment until at least one (1) year after the expiration of the term of his public office.   The original appointees, if two (2) be appointed, shall serve for two (2) and four (4) years respectively, or if four (4) be appointed, shall serve for one (1), two (2), three (3) and four (4) years respectively, from the first day of July next succeeding the date of appointment, as the said chief executive officer shall designate. Successors to retiring members so appointed shall be appointed for a term of four (4) years in the same manner, prior to the expiration of the term of office of the retiring members.   In addition to the members so appointed, such chief executive officer shall also, with the consent of the governing body of the municipality, designate a member of such governing body to serve as a third or fifth member of the board, as the case may be. The term of such member shall be for such time as the appointing officer may fix, but in no event shall it extend beyond such appointee's term of office in such governing body. Appointments to complete unexpired terms of office shall be made in the same manner as original appointments.   For the purposes of this section, the president of the board of supervisors of a county shall be considered the chief executive officer of the county.
MS Code § 77-5-427 (2020)
2020 Mississippi Code|Title 77 - Public Utilities and Carriers|Chapter 5 - Electric Power|Article 9 - Local Governmental Power Development Under Laws of 1936|§ 77-5-427. Board of public utilities; bond, oath, compensation and removal of members; meetings; election of officers

 Each member of the board of public utilities shall give such bond, if any, as may be required by resolution of the governing body of the municipality and shall qualify by taking the same oath of office as required for members of such governing body.   A majority of the board shall constitute a quorum. The board shall act by vote of a majority present at any meeting attended by a quorum and vacancies in the board shall not affect its power and authority so long as a quorum remains. Within ten (10) days after appointment and qualifications of members, the board shall hold a meeting to elect a chairman. The board shall at the same time designate a secretary and treasurer, or secretary-treasurer, who need not be members or a member of the board, and shall require such secretary and treasurer, or secretary-treasurer, to give bond, with sufficient surety, to be payable, conditioned and approved as provided by law, in a penalty equal to Twenty-five Thousand Dollars ($25,000.00), and shall fix their or his compensation. The board shall hold public meetings at least once each month, at such regular time and place as the board may determine. Changes in such time and place of meeting shall be made known to the public as far in advance as practicable. Save as otherwise expressly provided, the board shall establish its own rules of procedure. All members of the board shall serve as such without compensation, but they shall be allowed necessary traveling and other expenses while engaged in the business of the board, including allowance of not to exceed Five Dollars ($5.00) per month for attendance at meetings. Such expenses as well as the salaries of the secretary and treasurer, or secretary-treasurer, shall constitute a cost of operation and maintenance of the electric plant.   Any member of the board may be removed from office for cause upon a vote of three-fourths (3/4) of the members of the governing body of the municipality, but only after preferment of formal charges by resolution of a majority of the members of such governing body at a public hearing before such governing body.
MS Code § 77-5-431 (2020)
2020 Mississippi Code|Title 77 - Public Utilities and Carriers|Chapter 5 - Electric Power|Article 9 - Local Governmental Power Development Under Laws of 1936|§ 77-5-431. Electric plant fund

 All moneys derived from the issuance of bonds under the provisions of this article, together with any federal grant made in connection therewith, shall be paid to the proper fiscal agent of the supervisory body. Such agent shall deposit such moneys, together with all receipts from electric service or any other operation of the supervisory body as such, in a separate bank account or accounts, separate from all other municipal funds, and shall keep adequate records of all such receipts and their sources. The fiscal agent shall pay out such moneys only on voucher signed by the superintendent. No such voucher for the payment of any such moneys shall be issued except upon the resolution or order of the supervisory body, a certified copy whereof shall be filed in the office of the fiscal agent.
MS Code § 77-5-433 (2020)
2020 Mississippi Code|Title 77 - Public Utilities and Carriers|Chapter 5 - Electric Power|Article 9 - Local Governmental Power Development Under Laws of 1936|§ 77-5-433. Disposition of moneys received from the issuance of bonds

 All moneys received from the issuance of bonds shall be used solely to defray the cost of acquiring or improving an electric plant, except that such proceeds may in the discretion of the supervisory body also be used for the payment of the interest on the bonds during the first two (2) years following the date of such bonds. The cost of the electric plant shall include all costs of acquisition, or improvement, including all preliminary expenses described in Section 77-5-423, the cost of acquiring all property, franchises, easements, and rights in the judgment of the supervisory body necessary or convenient therefor, engineering and legal expenses, expenses for estimates of cost and revenues, expenses for plans, specifications and surveys, other expenses incident or necessary to determining the feasibility or practicability of the enterprise, administrative expense, and such other expense as may be incurred in the financing herein authorized, the acquisition or improvement of the electric plant, the placing of such plant in operation, including the creation of a cash working fund, and the performance of the things herein required or permitted in connection therewith.
MS Code § 77-5-435 (2020)
2020 Mississippi Code|Title 77 - Public Utilities and Carriers|Chapter 5 - Electric Power|Article 9 - Local Governmental Power Development Under Laws of 1936|§ 77-5-435. Disposition of revenues

 The supervisory body of a municipality proceeding under the terms of this article shall devote all moneys derived from any source other than the issuance of bonds to or for the payment of all operating expenses; bond interest and retirement and/or sinking fund payments; the acquisition and improvement of the electric plant; contingencies; the payment of other obligations incurred in the operation and maintenance of the electric plant and the furnishing of electric service; the redemption and purchase of electric plant bonds in which case such bonds shall be canceled; the creation and maintenance of a cash working fund; the payment of an amount to the general funds of the municipality not to exceed a cumulative return of six percent (6%) per annum of the equity or investment, if any, of the municipality; and, if the governing body of the municipality shall by resolution so request, payments to the municipality in lieu of ad valorem taxes on the property of the electric plant within the corporate or county limits of the municipality not to exceed the amount of taxes payable on privately owned property of similar nature. Any surplus thereafter remaining after establishment of proper reserves, if any, shall be devoted solely to the reduction of rates. In computing the equity or investment of the municipality, the value of the electric plant shall be taken as its historical cost, less the accrued depreciation as of the date of the first exercise by the municipality of the powers conferred by this article. The payment of bonds or the acquisition or improvement of property from the receipts derived from electric service or any other operation of the supervisory body as such shall not be considered to increase the equity or investment of the municipality.
MS Code § 77-5-437 (2020)
2020 Mississippi Code|Title 77 - Public Utilities and Carriers|Chapter 5 - Electric Power|Article 9 - Local Governmental Power Development Under Laws of 1936|§ 77-5-437. Payment for services rendered to municipalities and departments and works thereof

 The supervisory body shall charge the municipality and all departments and works thereof for any electric service furnished to them, at the rates applicable to other customers taking service under similar conditions. Revenues derived from such service shall be treated as all other revenues.
MS Code § 77-5-439 (2020)
2020 Mississippi Code|Title 77 - Public Utilities and Carriers|Chapter 5 - Electric Power|Article 9 - Local Governmental Power Development Under Laws of 1936|§ 77-5-439. Records and reports of the board of public utilities

 The board of public utilities shall keep a complete and accurate record of all meetings and actions taken, and of all receipts and disbursements, and shall make reports of the same to the governing body of the municipality at stated intervals, not to exceed one (1) year. Said reports shall be in writing and shall be filed in open meeting of the governing body of the municipality. A copy shall be filed with the municipal clerk or recorder.
MS Code § 77-5-441 (2020)
2020 Mississippi Code|Title 77 - Public Utilities and Carriers|Chapter 5 - Electric Power|Article 9 - Local Governmental Power Development Under Laws of 1936|§ 77-5-441. Exercise of power of eminent domain by municipality

 Any municipality proceeding under the provisions of this article is hereby authorized and empowered to condemn any land, easements or rights of way either on, under or above the ground, for any and all purposes necessary in connection with the construction, operation and maintenance of an electric plant or improvements thereto. Title to property so condemned shall be taken in the name of the municipality. Such condemnation proceedings shall be pursuant to and in accordance with Chapter 27, Title 11, of the Mississippi Code of 1972. Where condemnation proceedings become necessary the judge of the circuit court in which such proceedings are filed shall upon application of the municipality and upon the deposit in the court, for the use of the person or persons lawfully entitled thereto, of such amount as the judge may deem necessary to assure just compensation, order that the right of possession shall issue immediately or as soon and upon such terms as the judge in his discretion may deem proper and just. Upon application of the parties in interest, the judge may order that the money deposited in the court, or any part thereof, be paid forthwith for or on account of the just compensation to be awarded in said proceedings.
MS Code § 77-5-443 (2020)
2020 Mississippi Code|Title 77 - Public Utilities and Carriers|Chapter 5 - Electric Power|Article 9 - Local Governmental Power Development Under Laws of 1936|§ 77-5-443. Use of certain rights of way; payment of indebtedness

 Any municipality may use any right of way, easement or other similar property right necessary or convenient in connection with the acquisition, improvement, operation or maintenance of an electric plant, held by the state or any other municipality, provided that such other municipality shall consent to such use.   No incorporated city, town or village shall be included within a county, nor shall any such incorporated city, town or village be required to pay any of the bonds or other indebtedness applicable to or incurred by a county, proceeding under the terms of this article, unless a majority of the qualified voters of said incorporated city, town or village voting in the election provided for in Section 77-5-407 shall vote in favor of the issuance of such bonds or other indebtedness.
MS Code § 77-5-445 (2020)
2020 Mississippi Code|Title 77 - Public Utilities and Carriers|Chapter 5 - Electric Power|Article 9 - Local Governmental Power Development Under Laws of 1936|§ 77-5-445. Election for disposition of electric plant

 The governing body of the municipality may dispose of all or substantially all of the electric plant acquired by means of bonds issued under the provisions of this article, but only with the approval of the supervisory body and a majority of those voting in an election held as follows. The governing body of the municipality shall adopt a resolution which shall state in substance (a) that the supervisory body has approved the proposed disposition; (b) a full description of the property to be disposed of; (c) the purchaser or purchasers thereof; (d) the purchase price; (e) the terms or conditions of sale if such disposition is not for cash payable in full at the time of such disposition; (f) the date on which such election will be held; and (g) the place or places where votes may be cast. At such election the ballots shall contain the words "for the disposition of the electric plant" and "against the disposition of the electric plant." In all other respects the election shall be called and held in the manner set forth in Section 77-5-407.