Mississippi Code
Article 15 - Joint municipal electric power
§ 77-5-739. Issuance of bonds by municipalities and joint agencies

All bonds issued pursuant to this article shall be advertised and sold on sealed bids in the manner provided under the provisions of Section 31-19-25; provided that on bond sales in excess of Fifty Million Dollars ($50,000,000.00) the joint agency may sell its bonds by negotiated sale at not less than ninety-eight percent (98%) of par, plus accrued interest, when the joint agency has employed a nationally recognized financial advisor for the proposed bond issue. The duties of the financial advisor shall include the responsibility of preparing a statement to be submitted to the Governor, the chairman of the house ways and means committee and the chairman of the senate finance committee which shall clearly set forth the reasons why the negotiated sale was considered to be in the best interest of the joint agency and member municipalities, including the estimated savings in cost by selling the bonds at a negotiated sale.

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