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To: Local and Private
Legislation
MISSISSIPPI LEGISLATURE REGULAR SESSION 2026
By: Representatives Aguirre, Boyd (19th),
Thompson, Turner
HOUSE BILL NO. 4112
(As Sent to Governor)
AN ACT TO AMEND CHAPTER 920, LOCAL AND PRIVATE LAWS OF 1988, 1
AS AMENDED BY CHAPTER 967, LOCAL AND PRIVATE LAWS OF 1994, AS 2
AMENDED BY CHAPTER 903, LOCAL AND PRIVATE LAWS OF 2007, TO RESTORE 3
CERTAIN FUNDING TO BE UTILIZED BY THE NORTHEAST MISSISSIPPI 4
REGIONAL WATER SUPPLY DISTRICT TO SERVICE DEBT AND PAY THE COST OF 5
FACILITIES NECESSARY TO SERVE ITS MUNICIPAL, RESIDENTIAL, 6
COMMERCIAL AND INDUSTRIAL CUSTOMERS, INCLUDING BUT NOT LIMITED TO, 7
THE WELLSPRING PROJECT AND FOR CERTAIN OTHER PURPOSES; AND FOR 8
RELATED PURPOSES. 9
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MISSISSIPPI: 10
SECTION 1. Chapter 920, Local and Private Laws of 1988, as 11
amended by Chapter 967, Local and Private Laws of 1994, as amended 12
by Chapter 903, Local and Private Laws of 2007, is amended as 13
follows: 14
Section 1. Whenever used in this act, unless a different 15
meaning clearly appears in the context, the following terms shall 16
be given the following meanings: 17
(a) "Bonds" shall include notes, bonds and other 18
obligations authorized to be issued under this act. 19
(b) "City" means the City of Tupelo, Mississippi. 20
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(c) "Cost" as applied to the delivery of water service 21
to a governmental entity or water association, means an amount 22
equal to a proportional share of (i) the expenses of construction 23
and acquisition of the project amortized over the term of the 24
bonds issued for construction of the project, (ii) the expenses of 25
construction and acquisition of improvements to the project 26
amortized over the useful life of such improvements, (iii) 27
financing cost for the project and the aforesaid capital 28
improvements including the cost of interest on the bonds and debt 29
obligations issued to finance such improvements, less the annual 30
proceeds of the sales tax provided for in Section 5 of this act, 31
and (iv) operation and maintenance expenses pertaining to the 32
project as it may be improved from time to time, including a 33
reasonably required reserve fund for repair and renovation of the 34
project. The components of cost set forth above shall be 35
determined by a certified public accounting firm designated by the 36
district and acceptable to other users of the project. There 37
shall be deducted from such components of costs set forth above, 38
the proceeds of the special sales tax which will be used to pay 39
the principal of and interest on the bonds as provided in Section 40
12 hereof. 41
(d) "County" means Lee County, Mississippi. 42
(e) "District" means the Northeast Mississippi Regional 43
Water Supply District created pursuant to Section 51-8-1 et seq., 44
Mississippi Code of 1972, as * * * the district may be constituted 45
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from time to time. Local governmental units are entitled to join 46
such district as provided by law. 47
(f) "Governing body" means the Mayor and City Council 48
of the City of Tupelo, Mississippi. 49
(g) "Project" means an intake facility to obtain water 50
from the Tombigbee River and Tennessee-Tombigbee Waterway, 51
treatment facilities, transmission lines and related facilities, 52
including, but not limited to, those facilities necessary to serve 53
the Wellspring Project. The term "project" shall include any 54
drainage, wastewater treatment or disposal facilities. The term 55
"project" may include multiple separate projects. 56
(h) "System" means the combined waterworks and sewerage 57
system of the city. 58
(i) "Wellspring Project" means the industrial 59
development site established by Pontotoc, Union and Lee Counties, 60
Mississippi, consisting of approximately one thousand seven 61
hundred (1,700) acres adjacent to Interstate 22 (U.S. Highway 78) 62
near the Blue Springs interchange and the improvement and 63
development of such site for industrial and commercial purposes. 64
Section 2. (1) It is hereby determined and declared to be 65
in the best interest of the people of the city, the county and the 66
surrounding area to provide an adequate supply of water both for 67
residential and industrial use. It is in the public interest that 68
the city's critical water shortage be eliminated and that the 69
water shortage problem which exists in the area be alleviated. 70
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The construction of the project will assure the maintenance and 71
improvement of the living conditions of the people of northeast 72
Mississippi, the continuation of industrial, commercial and 73
economic opportunities in the area, including, but not limited to, 74
the Wellspring Project, and the enhancement of the health and 75
welfare of the area's people, particularly its heaviest 76
groundwater users, in the years to come. 77
(2) The city shall endeavor to alleviate the regional water 78
shortage problem through cooperative efforts and agreements for 79
the benefit of communities in the surrounding area. If any county 80
located in whole or in part in the Eutaw-McShan aquifer is 81
declared by the Department of Environmental Quality to be in an 82
emergency situation as outlined in paragraph (1) above, such 83
county may petition the district for access to the project and 84
shall be granted access by the district. Any additions to the 85
project shall be paid for with user fees which shall be assessed 86
equally in all participating counties. 87
Section 3. The governing body is hereby authorized to issue 88
general obligation bonds of the city in the aggregate principal 89
amount not to exceed Twenty-three Million Dollars ($23,000,000.00) 90
prior to March 2, 2007, and not to exceed an additional Thirty 91
Million Dollars ($30,000,000.00) thereafter to raise money for the 92
construction and acquisition of the project and payment of 93
interest on bonds, establishment of reserves to secure such bonds 94
and payment of expenses incident to the issuance of such bonds and 95
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to the implementation of the project. The bonds shall be general 96
obligations of the city, but shall not be considered when 97
computing any limitation of indebtedness of the city established 98
by law. Bonds that are issued under the provisions of this act 99
after March 2, 2007, other than refunding bonds, shall be issued 100
at one or more times and may be issued on a parity with any other 101
bonds issued under the provisions of this act, so long as the 102
first series of such bonds is issued no later than the later of: 103
(a) Two (2) years after the effective date of this act; 104
(b) Two (2) years after the current City of Tupelo 105
Water Bonds issued under the authority of Chapter 967, Local and 106
Private Laws of 1994, mature and are paid; or 107
(c) Two (2) years after the final termination of any 108
litigation affecting the issuance of the bonds. 109
Section 4. Any bonds issued pursuant to this act shall be 110
issued in accordance with the provisions of Title 21, Chapter 33, 111
Article 5, Mississippi Code of 1972, except that if such 112
provisions conflict with the provisions of this act, the 113
provisions of this act shall prevail. The full faith, credit and 114
resources of the city shall be irrevocably pledged for the payment 115
of the principal of and interest on the bonds. 116
Section 5. Before any bonds shall be issued pursuant to this 117
act, the imposition of a special sales tax, in addition to all 118
other taxes now imposed, at the rate of one-quarter of one percent 119
(0.25%) upon all sales and services within the city which are 120
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subject to the general rate of state sales tax as well as all 121
retail sales of food and drink for human consumption taxed under 122
Section 27-65-17(1)(n), Mississippi Code of 1972. Fifty percent 123
(50%) of the cost of any project or projects shall come from 124
proceeds received from such special sales tax and fifty percent 125
(50%) of the cost of any project or projects shall come from other 126
sources and user fees. 127
Section 6. Bonds issued under this act may be issued as 128
registered bonds pursuant to the provisions of Title 31, Chapter 129
21, Mississippi Code of 1972, or in bearer form either as to 130
principal or interest or both, may contain such covenants and 131
provisions, may be issued as term or serial bonds, in one or more 132
series, may be executed and delivered at any time, and from time 133
to time, may be in such form and denomination, may be of such 134
tenor, may be payable in such installments and at such time or 135
times, not exceeding twenty-five (25) years from their date of 136
issuance, may be payable at such place or places and evidenced in 137
such manner, may be callable with or without premium, may bear 138
such rate or rates of interest and may contain such other 139
provisions not inconsistent herewith, all as shall be provided in 140
the proceedings of the governing body whereunder the bonds shall 141
be directed to be issued. Bonds issued under this act may be sold 142
either at public sale in the manner provided by Section 31-19-25, 143
Mississippi Code of 1972, or at private sale, in the discretion of 144
the governing body. 145
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Section 7. No bond issued under this act shall bear a 146
greater overall maximum interest rate to maturity than that 147
allowed in Section 75-17-101, Mississippi Code of 1972, and no 148
bond may bear more than one (1) rate of interest; each bond shall 149
bear interest from its date to its stated maturity date at the 150
interest rate specified in the bonds; all bonds of the same 151
maturity shall bear the same rate of interest from date to 152
maturity. All interest accruing on bonds issued under this act 153
shall be payable semiannually or annually, except that the first 154
interest payment for any bond may be for any period not exceeding 155
one (1) year. No interest payment shall be evidenced by more than 156
one (1) coupon and neither cancelled nor supplemental coupons 157
shall be permitted. The lowest interest rate specified for any 158
bonds sold shall not be less than seventy percent (70%) of the 159
highest rate specified for the same bond issue. 160
Section 8. Bonds issued under this act shall be executed on 161
behalf of the city by the manual or facsimile signature of the 162
mayor and clerk of the city with the manual or facsimile seal of 163
the city affixed or imprinted thereon. At least one (1) signature 164
on each bond shall be a manual signature, whether of the mayor, 165
city clerk or authenticating agent. If the officers whose 166
signatures or countersignatures appear on the bonds or interest 167
coupons shall cease to be such officers before delivery of the 168
bonds, such signatures or countersignatures shall nevertheless be 169
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valid and sufficient for all purposes the same as if they had 170
remained in the office until such delivery. 171
Section 9. Bonds issued under this act and all interest 172
coupons applicable thereto shall be construed to be negotiable 173
instruments, despite the fact that they are payable solely from a 174
specified source, and shall be securities within the meaning of 175
Article 8 of the Mississippi Uniform Commercial Code. 176
Section 10. (1) The principal proceeds received upon the 177
sale of the bonds shall be deposited with a qualified depository 178
of the city in a special fund in the name of the city from which 179
there shall be first paid all expenses, premiums, fees and 180
commissions incurred by the city and deemed necessary or 181
advantageous by the governing body in connection with the 182
authorization, issuance, sale, validation and delivery of the 183
bonds. 184
(2) The balance of such proceeds shall be paid to the 185
district and deposited with a qualified depository of the 186
district. Such funds shall be held and disbursed for the project 187
and may be used (a) for the project, (b) to pay interest on the 188
bonds while the project is being completed and for a maximum of 189
six (6) months after the estimated date of completion, (c) to pay 190
engineering, fiscal, trustee, printing, accounting, financial 191
advisor, construction manager, feasibility consultant and legal 192
expenses, and development expenses incurred in connection with 193
such project, and related structures and facilities, and the 194
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issuance of the bonds, (d) to provide for the establishment of a 195
reasonable reserve fund for the payment of principal of and 196
interest on the bonds in the event of a deficiency in the revenues 197
and receipts available for such payments, if such fund is provided 198
for in the proceedings of the governing body in connection with 199
the issuance of bonds, (e) to pay the premium or premiums on any 200
insurance or any form of guarantee obtained from any source to 201
assure the prompt payment of principal and interest when due, (f) 202
to pay start-up costs and costs of operation and maintenance of 203
the project and related structures and facilities while it is 204
being established, erected, built, constructed, replaced, 205
remodeled, renovated, added to, equipped or furnished and for a 206
maximum of thirty-six (36) months after the estimated date of 207
completion, (g) to provide for the payment of interim indebtedness 208
incurred prior to the issuance of any bonds under this act and 209
used for the purposes set forth above, and (h) to pay costs 210
related to any suits and proceedings in connection with the 211
project, including any costs of settlement thereof. 212
Section 11. (1) On or before the fifteenth day prior to the 213
imposition of the special sales tax authorized in Section 5 of 214
this act, the governing body shall give written notification to 215
the Chairman of the * * * Mississippi Department of Revenue of the 216
date on which the special sales tax will become effective. 217
(2) Such tax shall be collected in the same manner as the 218
state sales tax imposed by Title 27, Chapter 65, Mississippi Code 219
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of 1972, and shall be accounted for separately from the amount of 220
sales tax collected for the state in the city. All provisions of 221
the Mississippi Sales Tax Law applicable to filing of such 222
returns, discounts to the taxpayer, remittances to the * * * 223
Mississippi Department of Revenue and retainage thereby of sums to 224
defray the costs of collection, collection enforcement, rights of 225
taxpayers, recovery of improper taxes, refunds of overpaid taxes 226
or other provisions of * * * such chapter providing for imposition 227
and collection of the sales tax shall apply to the tax authorized 228
by this act. 229
(3) On or before the fifteenth day of each month, the 230
revenue from the special sales tax collected under the provisions 231
of this section during the preceding month shall be paid and 232
distributed to the trustee provided in Section 13 of this act on 233
behalf of the city. Such special sales tax shall stand repealed 234
at the time and in the manner provided in subsection (3) of 235
Section 13 of this act. 236
Section 12. (1) Bonds issued under this act may be refunded 237
at any time and from time to time by the city pursuant to an 238
authorizing resolution of the governing body, directing the 239
issuance of refunding bonds in accordance with the Mississippi 240
Bond Refinancing Act, Section 31-27-1 et seq. 241
(2) The city shall have the authority to enter into an 242
investment agreement with a financial institution incorporated 243
under the laws of the United States or the laws of any state in 244
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the United States providing assurances with respect to the return 245
on investment of funds received by the city in connection with the 246
issuance of refunding bonds. 247
Section 13. (1) The bonds shall be secured by a trust 248
agreement by and between the city and a corporate trustee, which 249
may be any trust company or bank incorporated under the laws of 250
the United States or the laws of any state in the United States. 251
Any such trust agreement shall pledge for the payment of the 252
principal of, redemption premium, if any, and interest on the 253
bonds, the proceeds of the special sales tax provided for in this 254
act and may provide for any other source of payment which may from 255
time to time be made available to pay debt service on the bonds, 256
including revenues of the project, subject to the provisions of 257
subsection (3) of this section. The avails of the special sales 258
tax shall be used solely for the payment of the principal of, 259
redemption premium, if any, and interest on the bonds, including 260
any bonds issued prior to March 2, 2007, and for the payment of 261
expenses of issuance thereof or reserve funds therefor and shall 262
not be used to lower or offset any user fees which are required 263
under this act to pay fifty percent (50%) of the initial cost of 264
construction of the project. To the extent the proceeds of the 265
special sales tax and any other amounts which may from time to 266
time be available for the payment of the principal of, redemption 267
premium, if any, and interest on the bonds, including any 268
available revenues of the project, are not sufficient for such 269
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purpose, the governing body shall levy a special ad valorem tax 270
upon all of the taxable property within the city which shall be 271
sufficient, together with other monies available for such purpose, 272
to provide for the payment of the principal of, redemption 273
premium, if any, and interest on such bonds according to the terms 274
thereof. 275
(2) Such trust agreement may provide for the creation and 276
maintenance of such reserve funds as the governing body shall 277
determine are reasonable and proper, including such sinking fund 278
or funds as may be necessary to provide for the payment of the 279
principal of, redemption premium, if any, and interest on the 280
bonds, subject to the provisions of subsection (3) of this 281
section. Any such trust agreement or any resolution directing the 282
issuance of bonds may contain such provisions for protecting and 283
enforcing the rights and remedies of the registered owners thereof 284
as may be reasonable and proper and not in violation of law, 285
including the duties of the city in relation to the acquisition of 286
property and the construction, improvement, equipping, furnishing, 287
maintenance, repair, operation and insurance of the project and 288
the custody, safeguarding and application of all monies. 289
(3) Such trust agreement shall provide for the creation of a 290
fund which is separate and apart from any other fund authorized 291
under this section. The trustee shall deposit into such fund all 292
special sales tax revenues imposed and collected under this act 293
subject, however, to any pledge of such revenues made as security 294
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for bonds issued by the city prior to March 2, 2007. The special 295
sales tax revenues deposited into the fund shall be invested in 296
the manner provided by law for the investment of public funds. 297
Such special sales tax revenues, including interest earned 298
thereon, shall be used to pay not more than fifty percent (50%) of 299
the principal of and interest on such bonds as they become due and 300
payable on any payment date. The trustee shall determine when the 301
special sales taxes which it has actually received, together with 302
any income actually realized from the investment of such special 303
sales tax revenues, are sufficient to pay fifty percent (50%) of 304
the principal of and interest on bonds then outstanding, as such 305
bonds and the interest thereon mature and accrue to the final 306
maturity date; and, to the extent not needed for such purposes, 307
the avails of the special sales tax may be used to pay the costs 308
of any additions to the project or projects. The authority to 309
levy such special sales tax shall stand repealed on the first day 310
of the month immediately succeeding the payment in full of the 311
principal of and interest on all bonds issued pursuant to Section 312
3 of this act. The balance of any funds remaining in the fund 313
described in this subsection after final payment of all principal 314
of and interest on the bonds as herein provided shall be remitted 315
to the district. It is the intent of the Legislature that not 316
more than fifty percent (50%) of the principal of and interest on 317
the bonds issued under this act and any costs incident thereto 318
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shall be paid from the special sales tax and the interest earned 319
thereon. 320
(4) Any such trust agreement may set forth the rights and 321
remedies of the registered owners of the bonds and of the trustee, 322
and may restrict the individual right of action by such registered 323
owners as is customary in trust agreements or trust indentures 324
securing bonds and debentures of corporations. Further, any such 325
trust agreement may contain such provisions as the city may deem 326
reasonable and proper for the security of such registered owners 327
and may also contain provisions governing the issuance of bonds to 328
replace lost, stolen or mutilated bonds. 329
(5) Any such trust agreement may contain a provision that, 330
in the event of a default in the payment of the principal of, 331
redemption premium, if any, or the interest on the bonds issued in 332
accordance with or relating to, such agreement or in the 333
performance of any agreement contained in the proceedings, trust 334
agreement or instruments relating to such bonds, such payment and 335
performance may be enforced by mandamus or by the appointment of a 336
receiver in equity. 337
(6) All expenses incurred by the city in carrying out the 338
provisions of any such trust agreement may be treated as a part of 339
the cost of the operation of the project. 340
(7) Any surplus funds, excluding special sales tax revenues 341
and interest earned thereon, received by the trustee after payment 342
in full of the principal of, redemption premium, if any, and 343
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interest on the bonds, or provision therefor having been made, 344
shall be paid over to the city and expended for improvements, 345
repairs and extensions to the project. 346
Section 14. (1) Bonds issued under this act and the income 347
therefrom shall be exempt from all taxation in the State of 348
Mississippi, excepting inheritance and gift taxes. 349
(2) Bonds issued under this act shall be legal investments 350
for commercial banks, savings and loan associations and insurance 351
companies organized under the laws of this state. 352
Section 15. Bonds issued under this act shall be submitted 353
to validation as provided by Title 31, Chapter 13, Mississippi 354
Code of 1972, and to that end the city clerk shall be directed to 355
make up a transcript of all legal papers and proceedings relating 356
to the bonds and to certify and forward the same to the state's 357
bond attorney for the institution of validation proceedings. 358
Section 16. The governing body, the board of supervisors of 359
any county or the governing authorities of any city in which a 360
part of the project or projects are located are authorized to 361
exercise such powers of eminent domain as are required by the 362
public convenience and necessity to acquire property, or interests 363
therein, whether real, personal or mixed, on which to construct 364
the project or any part thereof. 365
Section 17. (1) The project shall be owned by the district. 366
The district is authorized to contract with any agency, department 367
or other office of government or any individual, partnership, 368
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corporation, utility or water management district, county or 369
municipality, and each of those entities are authorized to 370
contract with the district for the acquisition, treatment or 371
furnishing of water or providing of property, equipment or 372
services by or to the district regarding the construction, funding 373
or operation of the project and to contract for the management of 374
the project or any part thereof by any individual, partnership or 375
corporation or governmental entity. The district is further 376
authorized, to the extent that the governing body determines to be 377
in the best interest of the city and the surrounding area, to 378
sell, lease or otherwise convey any of the facilities or property 379
constituting a part of or pertaining to the project and to 380
contract with any of the above entities regarding such sale, lease 381
or conveyance. The authority to levy and collect the special 382
taxes provided for in this act shall not be adversely affected by 383
any such contract, agreement, sale, lease or conveyance. 384
(2) Such agreement may contain a provision whereby the 385
entity contracting with the district agrees to take an established 386
amount of water at an established rate or to pay an amount if it 387
does not require the established amount or if the project is not 388
able to provide water in such amounts in the applicable time 389
periods. The district is further authorized to lease any of the 390
facilities or property constituting a part of or pertaining to the 391
project and to contract with any of the above entities regarding 392
such lease. The authority to levy and collect the special tax 393
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provided for in this act shall not be adversely affected by any 394
agreement entered into pursuant to this section. The revenues and 395
expenses of the project shall be accounted for so that the cost of 396
water service can be determined as provided in this act. The 397
district shall sell water from the project to each governmental 398
entity or water association within the district at the cost of 399
such water service. 400
Section 18. The district shall pledge a sufficient portion 401
of its revenues received from the sale of water from the project, 402
after payment of the expense of operation and maintenance of the 403
project, to the payment of principal of and interest on any bonds 404
as the same comes due to the extent the same is not paid with the 405
proceeds of the sales tax referenced in Section 5 herein. The 406
proceedings of the governing body in connection with the issuance 407
of bonds, pursuant to agreement with the district, may provide for 408
the payment of a sufficient portion of such revenues to the 409
trustee provided for herein, and may contain such other provision 410
regarding the priority of such pledge as shall be contained 411
therein and in any agreements between the district and any other 412
contracting party, including the city. 413
Section 19. This act, without reference to any other 414
statute, shall be deemed to be full and complete authority for the 415
issuance of bonds under this act, and shall be construed as an 416
additional and alternative method therefor, and none of the 417
present restrictions, requirements, conditions or limitations of 418
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ST: City of Tupelo; restore certain funding to
be used by Northeast MS Regional Water Supply
District for district operations.
law applicable to the issuance or sale of bonds, notes or other 419
obligations by municipalities of this state shall apply to the 420
issuance and sale of bonds under this act, and no proceedings 421
shall be required for the issuance of such bonds other than those 422
provided for and required herein. All other powers and authority 423
provided for or granted in this act, other than the levy of taxes 424
authorized under this act, may be exercised whether or not bonds 425
are issued pursuant to this act. All powers necessary to be 426
exercised in order to carry out the provisions of this act are 427
hereby conferred. 428
Section 20. Nothing in this act shall prohibit other 429
political subdivisions from obtaining water from the Tombigbee 430
River and the Tennessee-Tombigbee Waterway as provided by state 431
law. 432
Section 21. Nothing contained in this act (Senate Bill No. 433
3214, 2007 Regular Session) shall affect any bonds issued by the 434
city prior to March 2, 2007, or the security pledged therefor or 435
any agreement entered into with respect to the security for such 436
bonds. 437
Section 22. No member of the Legislature, elected official 438
or appointed official, or any partner or associate of any member 439
of the Legislature, elected official or appointed official shall 440
derive any income from the issuance of any bonds under this act. 441
SECTION 2. This act shall take effect and be in force from 442
and after its passage. 443