The municipality joining with another municipality which has already received a certificate of convenience and necessity shall have an undivided interest in the enterprise in the same proportion as the amount of bonds issued by such municipality bears to the total bonds issued by both municipalities in the establishment of such enterprise.Codes, 1942, § 8937; Laws, 1946, ch. 320, §§ 1-5; Laws, 1960, ch. 146.
Mississippi Legal Code