House Bill 1305

AN ACT TO AMEND SECTION 51-15-118, MISSISSIPPI CODE OF 1972, TO REQUIRE THE INDEPENDENT AUDIT CONDUCTED TO DETERMINE LIABILITIES, OBLIGATIONS AND INDEBTEDNESS OF A COUNTY WITHDRAWING FROM THE PAT HARRISON WATERWAY DISTRICT TO TAKE INTO CONSIDERATION FUTURE LIABILITIES OF THE DISTRICT PERTAINING TO INFRASTRUCTURE LOCATED IN THE WITHDRAWING COUNTY; AND FOR RELATED PURPOSES.

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

SECTION 1. Section 51-15-118, Mississippi Code of 1972, is amended as follows:

51-15-118. From and after July 1, 1999, the board of supervisors of any county that is included in the Pat Harrison Waterway District may elect to withdraw such county from the district. The withdrawing county shall be responsible for paying its portion of any district bonds, contractual obligations, and any other indebtedness and liabilities of the district that are outstanding on the date of such county's withdrawal from the district. The withdrawing county's portion of such liabilities, obligations and indebtedness shall be determined through an independent audit conducted by a certified public accountant. The audit shall take into consideration future liabilities of the district pertaining to infrastructure located in the withdrawing county. The board of supervisors of the withdrawing county shall provide the sum that is required by this section either by appropriation from any available funds of the county or by levy. Such board of supervisors may borrow funds as needed to satisfy the withdrawing county's portion of the liabilities, obligations and indebtedness of the district as required herein.

SECTION 2. This act shall take effect and be in force from and after its passage.