JACKSON, Miss. – JXN Water supports efforts to establish future governance for the water system and will work with legislators on recommended amendments.
“After reviewing SB 2628, I believe this is a great foundation. It appears that many of the comments I provided during the last session regarding the bill introduced in 2023 were taken to heart and this bill now includes many of the suggestions I made at that time,” said Ted Henifin, interim third party manager for JXN Water. “The bill identifies a need for appropriations but I recommend defining a specific dollar figure to fund start-up costs for the authority be included in the FY 2025 state budget.”
The ITPM supports many of the bill’s key elements:
- All Federal funds received to date to be spent according to the direction of the ITPM and the Court
- Authority assumes ownership and operations and maintenance upon the date of termination of the Order or earlier as ordered by theCourt
- Authority can issue bonds
- Authority develops own procedures for procurements less than $1.0 million
- Authority to consult with the Court in appointing a President (paid for by State) and to serve as ITPM’s deputy in the transition
- Authorizes the Mississippi SRF program to loan funds at zero percent with a 40-year term to make such purchase
- Board serves without salary
- Employees of Authority serve at will and pleasure of president who sets compensation and benefits
- Nine-member board from very specific constituencies – give appointed by Governor and four by Lt. Governor
- Set rates subject to PSC review – PSC shall defer to Authority’s determination of what rates are just and reasonable absent a showing of manifest error
- State provides surety for short-term borrowing through 2029
- The bill authorizes the Authority to purchase the water and sewer assets at fair market value
