HB 1696 Summary

• Amends the West Rankin Utility Authority Act to require that payments made by public agency members to the authority for bond principal and interest be used exclusively for paying those specific bonds and deposited in segregated bank accounts with exclusive first priority liens for bondholders.

• Prohibits authority payments from being subject to liens or attachment by creditors and excludes them from being treated as authority revenues available for operation, maintenance, or other obligations.

• Prohibits member public agencies from entering into contracts with the authority that would impair the authority's ability to repay Water Pollution Control Revolving Loans from the Mississippi Department of Environmental Quality.

• Maintains the authority's existing powers to acquire, construct, and operate water, wastewater, and solid waste systems through contracts with member agencies including the cities of Brandon, Flowood, Pearl, and Richland, plus other eligible public agencies in Rankin County.