MS SB2986

Increases the maximum amount of revenue bonds authorized to be issued by the Sebastopol Natural Gas District from $10,000,000 to $15,000,000.

The Sebastopol Natural Gas District encompasses specified sections of land in Scott County and may include portions of Newton, Leake, and Neshoba Counties if those counties' boards of supervisors authorize participation.

The district is governed by a board of commissioners consisting of the Scott County District Five Supervisor, the Newton County District Three Supervisor (if Newton County participates), and four resident members appointed by the Governor or elected by district users.

The board has authority to construct and acquire a natural gas transmission and distribution system and to issue revenue bonds to finance construction, subject to user protest procedures requiring an election if 10% of users file written protests.

Revenue bonds may be validated under Mississippi Code provisions, and the district's gas system is exempt from Mississippi Public Service Commission jurisdiction.