The breaks happened Tuesday morning -- one about a quarter of a mile south of town, and the other near the town park on Lewis Street.
According to Stovall's mayor, Janet Parrot, schools in the area are closed for the day due to the lack of water.
Stovall gets their water from the Town of Oxford, which is about 10 miles south of Stovall.
The town is currently under a boil water order, which means residents should boil water for at least a minute before using.
It is unclear when water will be restored to Stovall.