MS SB2872

Dissolves the Pearl River Basin Development District effective July 1, 2018, and repeals all statutory authority under Sections 51-11-1 through 51-11-87.

Transfers all authority, assets, and dissolution responsibilities to the Department of Finance and Administration, which becomes agent-in-fact for the district and retains all former district funds to settle outstanding obligations.

Authorizes transfer of district real property (including water parks) to counties or municipalities in which the property is located, provided they accept associated duties and obligations; allows sale of surplus property through the Secretary of State if counties decline transfer.

Requires counties to continue paying all pre-dissolution financial obligations to the district, including bond payments and annual payments, now payable to the Department of Finance and Administration.

Allows the Lower Pearl River Restoration Project to continue under existing agreements, with district obligations assumed by the Department of Environmental Quality or other designated state entity, funded through the Lower Pearl River Restoration Trust Fund.