Whenever the board of commissioners of the authority and the utility commissions of its member municipalities shall by resolution or ordinance determine that the purposes for which the authority was formed have been substantially fulfilled and that all bonds theretofore issued and all other obligations theretofore incurred by the authority have been fully paid or satisfied, such board of commissioners and utility commissions may declare the authority to be dissolved. On the effective date of such resolution or ordinance, the title to all funds and other property owned by the authority at the time of such dissolution shall vest in the member municipalities of the authority as provided in this chapter and the bylaws of the authority.
Structure Mississippi Code
Title 77 - Public Utilities and Carriers
Chapter 6 - Municipal Gas Authority of Mississippi Law
§ 77-6-9. Membership in authority after its creation; withdrawal
§ 77-6-11. Board of commissioners
§ 77-6-13. Executive committee of board of commissioners
§ 77-6-15. Rights and powers of authority
§ 77-6-19. Municipalities that may contract with authority
§ 77-6-21. Contracts to buy gas from authority
§ 77-6-23. Excess capacity or output may be sold or exchanged
§ 77-6-25. Provisions to be construed as authorizing joint and several ownership of projects
§ 77-6-27. Acquisition of property; contract requirements
§ 77-6-29. Power to issue revenue bonds
§ 77-6-31. Revenue bonds; powers and duties
§ 77-6-35. Rents, rates, fees and charges by municipality
§ 77-6-37. Rents, rates, fees and charges by authority
§ 77-6-39. Pledge of municipality or authority valid and binding when made
§ 77-6-41. Investment of all monies received
§ 77-6-43. Rights of holders of bonds
§ 77-6-45. Bonds to be securities
§ 77-6-47. Obligations of issuing municipality or authority
§ 77-6-51. Evidence of indebtedness to be considered negotiable instruments
§ 77-6-55. Exemption from taxation
§ 77-6-57. Dissolution of board of commissioners
§ 77-6-59. Annual reports; audits
§ 77-6-61. Application of laws of other states
§ 77-6-63. Grants and loans authorized
§ 77-6-67. Where utility commission and municipality have same governing authorities
§ 77-6-69. Provisions supplemental to other laws
§ 77-6-73. Provisions to be liberally construed
§ 77-6-75. Members of legislature to have no interest in bonds