Section 77-3-99 - Election by eligible homeowners association to provide water service to its residents; continuing obligations of eligible municipality(1) In the event an eligible homeowners association elects to provide water service to its residents, the eligible municipality shall sell and convey any water assets to the homeowners association that the association deems necessary to supply its residents with water. These assets shall include, without limitation, main water lines, service lines to residential buildings, meters, and any other assets located within the subdivision that are owned by the municipality and used for the purpose of delivering water, which the homeowners association has determined are necessary or useful to provide its residents with water. The homeowners association shall pay the municipality fair market value for such assets, which value shall be determined by an independent appraisal conducted by an appraiser of the eligible homeowners association's choosing. At such time as the eligible homeowners association closes on the municipal water assets, it shall obtain as a function of law an easement in municipal roads and rights-of-way through or under which these assets reside, and on municipal roads adjacent to these roads, which will allow the homeowners association to repair, replace or improve these assets as needed at its cost, including repairing any damage to municipal roads that result from these repairs or replacements.(2) The provisions of this chapter shall continue to apply to sewer services and the eligible municipality shall continue to furnish sewage disposal services to the residents of the eligible homeowners association on the same terms at which they are offered to other residents of the municipality.(3) If an eligible homeowners association elects to provide water to its residents, the eligible municipality shall continue to provide water service to the residents of this subdivision until such time as the homeowners association notifies the municipality in writing that it is prepared to begin providing water service to the subdivision's residents.(4) Nothing in this chapter shall be construed to diminish or eliminate the eligible municipality's continued obligation to provide emergency fire suppression services to a subdivision, the eligible homeowners association of which has elected to provide its residents with water.Added by Laws, 2023, ch. 322, SB 2433,§ 3, eff. 7/1/2023.