Mississippi Code 1972 (2023) › Title 77 - PUBLIC UTILITIES AND CARRIERS (§§ 77-1-1 — 77-NEW-NEW-004) › Chapter 5 - ELECTRIC POWER (§§ 77-5-1 — 77-5-911) › Article 1 - MISSISSIPPI RURAL ELECTRIFICATION AUTHORITY (§§ 77-5-1 — 77-5-49) › Section 77-5-23 - Grant of specific powers to authority

The authority shall have power:
(a)
To sue and be sued.
(b)
To have a seal and alter the same at pleasure.
(c)
To render service to the inhabitants of the state and, by contract or contracts with any person, federal agency or municipality or by its own employees, to acquire, own, operate, maintain and improve a system or systems.
(d)
To acquire, hold and dispose of property, real and personal, tangible and intangible, or interests therein, in its own name, subject to mortgages or other liens or otherwise and to pay therefor in cash or on credit, and to secure and procure payment of all or any part of the purchase price thereof on such terms and conditions as the board shall determine.
(e)
To cause surveys to be made of areas throughout the state for the purpose of determining the economic soundness of the acquisition of a system or systems therein, to make plans and estimates of the cost of such system or systems and in connection therewith to enter on any lands, waters and premises for the purpose of making such surveys, soundings and examinations.
(f)
To have complete control and supervision of the system or systems and to make such rules and regulations governing the rendering of service thereby as, in the judgment of the board, may be just and equitable.
(g)
To fix, maintain and collect rates and charges for service.
(h)
To use any right of way, easement or other similar property right necessary or convenient in connection with the acquisition, improvement, operation or maintenance of a system or systems, held by the state or any political subdivision thereof, provided, that the governing body of such political subdivision shall consent to such use.
(i)
To execute all instruments necessary or convenient including, but not limited to, indentures of trust, leases, and bonds.
(j)
To borrow money and issue bonds and to provide for the rights of the holders thereof.
(k)
To accept gifts or grants of money or property, real or personal, and voluntary and uncompensated services from any person, federal agency or municipality.
(l)
To condemn any land, easements, or rights of way, either on, under, or above the ground as the board may deem necessary for any of the purposes mentioned in this article, and such property or interest in such property may be so acquired whether or not the same is owned or held for public use by corporations, associations or persons having the power of eminent domain or otherwise held or used for public purposes. Such power of condemnation may be exercised in the mode or method of procedure prescribed by Chapter 27, Title 11, of the Mississippi Code of 1972, or in the mode or method of procedure prescribed by any other applicable statutory provisions now in force or hereafter enacted for the exercise of the power of eminent domain. Where condemnation proceedings become necessary the judge of the circuit court in which such proceedings are filed shall upon application of the authority and upon the deposit in the court, to the use of the person or persons lawfully entitled thereto, of such an 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.
(m)
To make any and all contracts necessary or convenient for the full exercise of the powers herein granted, including, but not limited to, contracts with any person, federal agency, or municipality (a) for the purchase or sale of energy, (b) for the management and conduct of the business of the authority or any part thereof, and (c) for the acquisition of all or part of any system or systems. In connection with any such contract the authority shall have the power to stipulate and agree to such covenants, terms and conditions as the board may deem appropriate, including, but without limitations, covenants, terms and conditions with respect to the resale rates, financial and accounting methods, services, operation and maintenance practices, and the manner of disposing of the revenues of the system or systems conducted and operated by the authority.
(n)
To do any and all acts and things herein authorized or necessary or convenient to carry out the powers expressly given in this article under, through or by means of its own officers, agents and employees, or by contracts with any person, federal agency or municipality.
(o)
To pledge all or any part of its revenues and to mortgage or otherwise incumber all or any part of its property for the purpose of securing the payment of the principal and interest on any of its bonds or other obligations.
Codes, 1942, § 5511; Laws, 1936, ch. 183.