Every agreement under either subsection (d) or (e) of Section 43-17-103 shall contain a covenant obligating the industry to effect the completion of the pollution control facilities if the proceeds of the bonds, including parity completion bonds, if any, prove insufficient, and each such lease/sale shall obligate the industry to make payments which shall be sufficient (a) to pay the principal of and interest on the bonds issued for such pollution control facilities, (b) to build up and maintain any reserves deemed by the governing board to be advisable in connection therewith, and (c) to pay the costs of maintaining the pollution control facilities in good repair and the cost of keeping it properly insured. Such agreement may provide for the issuance of additional parity bonds as required in order to complete the pollution control facility.Laws, 1973, ch. 505, § 7, eff. 4/17/1973.
Mississippi Legal Code