2010 Mississippi Code
TITLE 49 - CONSERVATION AND ECOLOGY
Chapter 17 - Pollution of Waters, Streams, and Air.
49-17-115 - Optional terms of lease/sale agreements.
§ 49-17-115. Optional terms of lease/sale agreements.
Any agreement made under subsection (e) of Section 49-17-103 may provide that the pollution control facilities will be owned by the municipality, and leased to the industry; may provide the industry with an option to purchase the pollution control facility upon such terms and conditions as the governing board and the industry shall agree upon at a price which may be a nominal amount or less than the true value at the time of purchase; or may provide that the pollution control facilities shall become the property of the industry upon the acquisition thereof. Any such agreement may also, but is not required to, include a guaranty agreement whereby a corporation, foreign or domestic, other than the industry guarantees in whole or in part the obligations of the industry under the lease/sale upon such terms and conditions as the governing board may deem appropriate.
Sources: Laws, 1973, ch. 505, § 8, eff from and after passage (approved April 17, 1973).
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