The Pearl River Valley Water Supply District through its board of directors is hereby empowered:
Moreover, where any site or plot of land is to be rented, leased, or sold to any person, firm, or corporation for the purpose of operating recreational facilities thereon for profit, then the board shall, by resolution, specify the terms and conditions of the sale, rental, or lease, and shall advertise for public bids thereon. When bids are received, they shall be publicly opened by the board, and the board shall thereupon determine the highest and best bid submitted and shall immediately notify the former owner of the site or plot of the amount, terms, and conditions of the highest and best bid. The former owner of the site or plot shall have the exclusive right at his option, for a period of thirty (30) days after the determination of the highest and best bid by the board, to rent, lease, or purchase said site or plot of land by meeting such highest and best bid and by complying with all terms and conditions of the renting, leasing, or sale as specified by the board. However, the board shall not in any event rent, lease, or sell to any former owner more land than was taken from the former owner for the construction of the project, or one-quarter (1/4) mile of shoreline, whichever is the lesser. If this option is not exercised by the former owner within a period of thirty (30) days, then the board shall accept the highest and best bid submitted.
Any bona fide, resident householder, actually living or maintaining a residence on land taken by the district by condemnation shall have the right to repurchase not exceeding forty (40) acres of his former land or other available land from the board of directors for a price not exceeding the price paid for condemning his land.
Any transaction regarding any property under the provisions of this section shall be executed in accordance with the provisions of Section 29-1-1.
Miss. Code § 51-9-121