MS SB3074

Creates the Lafayette County Utility Authority as a public body corporate and political subdivision to acquire, construct, operate, and maintain solid waste, storm water, water, and wastewater systems within Lafayette County.

Establishes a seven-member Board of Directors appointed by the Mayor of Oxford (1 member), Chancellor of University of Mississippi (1 member), and Lafayette County Board of Supervisors (5 members) with initial staggered terms of 1-5 years and subsequent five-year terms.

Grants the Authority broad powers including acquiring property by eminent domain (except systems with Public Service Commission certificates), issuing revenue bonds up to 30 years, establishing rates and fees exempt from Public Service Commission jurisdiction, and entering contracts with public agencies and private entities.

Authorizes municipalities and public agencies holding water/sewer service certificates to transfer their powers, duties, responsibilities, and assets to the Authority through joint petition to the Public Service Commission upon finding it serves the public interest.

Provides for bond validation under existing Mississippi law with proceeds used for system construction, acquisition, operation, maintenance, debt service, and reserves, with bonds payable solely from pledged revenues.