If any default is made in the payment of the principal of or interest, if any, on the bonds, any court having jurisdiction of the action may appoint a receiver to administer the water authority and the project, system or systems, with power to charge and collect rates sufficient to provide for the payment of all bonds and obligations outstanding against project, system or systems, and for payment of operating expenses, and to apply the income and revenues thereof in conformity with the provisions of this chapter and any covenants with bondholders.
Structure Mississippi Code
Title 51 - Waters, Water Resources, Water Districts, Drainage, and Flood Control
Chapter 41 - Public Water Authorities
§ 51-41-7. Authority generally
§ 51-41-11. Existence of water authority
§ 51-41-19. Tax exemption of projects
§ 51-41-23. Execution of bonds
§ 51-41-25. Security for bonds