MS HB1088

Amends Section 21-27-7 to authorize municipalities to purchase water association assets, including water supply and distribution systems, through issuance of revenue bonds or special improvement bonds, subject to mutual agreement and governing authority approval.

Amends Section 19-5-181 to authorize county boards of supervisors to issue revenue bonds or special improvement bonds to purchase water associations, water supply systems, or related facilities within utility districts, subject to the same procedures and revenue pledge requirements.

Requires that any bonds issued for water association purchases be payable solely from revenues generated by the waterworks system.

Takes effect July 1, 2025.