MS HB1503

Authorizes the Town of Falkner, Mississippi to acquire and assume operation and maintenance of the Blackjack Development Association, Inc. Water System, including all its liabilities, obligations, assets, duties and responsibilities.

Grants the town power to operate its water distribution system beyond the five-mile corporate limit restriction under Mississippi Code Section 21-27-39 in order to serve the area currently served by Blackjack Development Association.

Allows the town to charge consumers outside corporate limits a rate no greater than twice the rate charged to in-town consumers until any construction, expansion, and related debt are completed and retired.

Specifies that indebtedness incurred by Falkner from this acquisition shall not count against statutory debt limitations for municipalities.

Confirms the town remains subject to Public Service Commission regulation, certificate of public convenience and necessity requirements, and other applicable state laws.