Senate Bill 3200

(As Passed the Senate)

AN ACT TO AUTHORIZE ISSAQUENA COUNTY, MISSISSIPPI, TO PARTICIPATE IN A PROJECT TO INSTALL TURBINES IN THE MISSISSIPPI RIVER TO GENERATE ELECTRICITY FOR SALE BY THE COUNTY; TO PROVIDE THAT THE COUNTY MAY FINANCE THE PROJECT BY ISSUANCE OF REVENUE BONDS; TO AUTHORIZE ISSAQUENA COUNTY TO FORM A NONPROFIT CORPORATION TO CARRY OUT THE PROJECT; AND FOR RELATED PURPOSES.

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MISSISSIPPI:

SECTION 1. Issaquena County, Mississippi, is hereby authorized to participate in a project to design and locate a turbine or turbines on barges in the Mississippi River which will generate electricity for sale by the county to a utility company (project).

SECTION 2. Issaquena County, Mississippi, may finance the cost of the project by issuance of revenue bonds pursuant to the authority to do so provided in Section 77-5-307, Mississippi Code of 1972.

SECTION 3. Issaquena County, Mississippi, is also authorized to participate in the project by the incorporation of a Mississippi nonprofit corporation whose board of directors will be appointed by the governing body of the county and which may be empowered to exercise such authority with respect to the project as may be set forth in the resolution of the county and establishing the nonprofit corporation.

SECTION 4. Issaquena County, Mississippi, and/or the nonprofit corporation formed for carrying out the project is expressly authorized to employ counsel to represent it regarding the design, construction and operation of the project and to be paid a salary within the range allowed for a legal assistant to a district attorney with the employment to continue for a period of time not to exceed the duration of any indebtedness incurred for construction of the project. Issaquena County, Mississippi, shall be required to pay this cost and other costs incurred in the design, construction and operation of the project from the proceeds of the funds derived from the financing or operation of the project, if any.

SECTION 5. This act shall take effect and be in force from and after its passage.