§ 77-5-709. Proportionate ownership of undivided interest in projects; liability of municipality; contracts; issuance of bonds

MS Code § 77-5-709 (2019) (N/A)
Copy with citation
Copy as parenthetical citation

(a) The purpose or purposes of the contract;

(b) The duration of the contract;

(c) The manner of appointing or employing the personnel necessary in connection with the project;

(d) The method of financing the project, including the apportionment of costs and revenues;

(e) Provisions specifying the ownership interests of the parties in real property used or useful in connection with the project, and the procedures for the disposition of such property when the contract expires, is terminated or when the project, for any reason, is abandoned, decommissioned or dismantled;

(f) Provisions relating to alienation and prohibiting partition of a municipality’s undivided interest in a project, which provisions shall not be subject to any provision of law restricting covenants against alienation or partition;

(g) Provisions for the construction of a project, which may include the determination that one (1) municipality jointly participating or any person, firm or corporation may construct the project as agent for all the parties;

(h) Provisions for the operation and maintenance of a project, which may include the determination that one (1) municipality jointly participating or any person, firm or corporation may operate and maintain the project as agent for all the parties;

(i) Provisions for the creation of a committee of representatives of the parties jointly participating with such powers of supervision of the construction and operation of the project as the contract, not inconsistent with the provisions of this article, may provide;

(j) Provisions that if one or more of the parties shall default in the performance or discharge of its or their obligations with respect to the project, the other party or one or more of the other parties may assume, pro rata, or otherwise, the obligations of such defaulting party or parties and may succeed to such rights and interests of the defaulting party or parties in the project as may be agreed upon in the contract;

(k) Methods of amending the contract;

(l) Methods for terminating the contract; and

(m) Any other necessary or proper matter.