Senate Bill 2889 Summary

• Creates the Mississippi Capitol Region Utility Authority as a corporate nonprofit to manage water, wastewater, and storm water systems serving central Mississippi, including Jackson, with ownership transfer occurring when the federal court-appointed receiver's term ends.

• Establishes a 9-member Board of Directors appointed by the Mayor of Jackson (4 members), Governor (3 members), and Lieutenant Governor (2 members), all requiring Mississippi residency, system ratepayer status, and demonstrated experience in business, fiscal affairs, public health, or utilities.

• Grants the authority broad powers to acquire, construct, operate, and maintain water systems; establish and adjust rates subject to Public Service Commission jurisdiction; issue revenue bonds up to 40 years; and enter into contracts with public agencies and private entities.

• Requires annual audited financial statements, quarterly financial reporting on the website, submission of water quality and financial reports to state officials, and immediate notification of regulatory compliance issues from state health and environmental agencies.

• Authorizes counties, municipalities, and public agencies to advance funds or issue notes to cover the utility authority's startup costs and initial capital needs until sufficient revenues are secured from bonds and operations.