Miss. Code § 77-5-707
In addition and supplemental to the powers otherwise conferred on municipalities by the laws of the state, and in order to accomplish the purposes of this article and to obtain a supply of electric power and energy for the present and future needs of its inhabitants and customers, a municipality may plan, finance, develop, construct, reconstruct, acquire, improve, enlarge, better, own, operate and maintain an undivided interest as a tenant in common in a project situated within or without the state jointly with one or more other municipalities, or with a joint agency created pursuant to this article, or with municipal corporations or political subdivisions of other states (to the extent permitted by the laws of such other states), or with any other federal, state or municipal agency which owns electric generation, transmission or distribution facilities or with any person, firm, association or corporation, public or private, engaged in the generation, transmission or distribution of electric power and energy either within or without this state, and may make such plans and enter into such contracts in connection therewith, not inconsistent with the provisions of this article, as are necessary or appropriate.
Prior to acquiring any such undivided interest, the utility commission shall determine the needs of the municipality for power and energy based upon engineering studies and reports, and shall not acquire an undivided interest as a tenant in common in a project in excess of that amount of capacity and the energy associated therewith required to provide for its projected needs for power and energy from and after the date the project is estimated to be placed in normal continuous operation and for such reasonable period of time thereafter as shall be determined by the utility commission. In determining the future power requirements of a municipality, there shall be taken into account the following:
A determination by such utility commission approved by the governing authorities as herein provided, based upon appropriate findings of the foregoing matters, shall be conclusive as to the quantity of the interest which a municipality may acquire in a project. Any determination by the utilities commission shall be filed with the governing authorities of the municipality and recorded in the official minutes of the governing authorities. Notice of the filing of such determination shall be published one (1) time in a newspaper having a general circulation in the municipality, and shall specify a date, not less than ten (10) days after the publication of such notice at which the governing authorities of such municipality shall meet to hear any objections or remonstrances that may be made. At said meeting, the governing authorities shall consider the objections or protests, if any, and shall at said meeting or at any adjourned meeting, ratify or reject the determination of the utility commission. Any person or party objecting or protesting the determination at said meeting, who is aggrieved by the ratification thereof, shall file an appeal pursuant to Section 11-51-75.
Nothing herein contained shall prevent a municipality or municipalities from undertaking studies to determine whether there is a need for a project or whether such project is feasible.
For the purposes of this section, the terms "municipality" and "utility commission" shall not include a joint agency or the board of commissioners thereof.
Miss. Code § 77-5-707