Bill Text: MS HB1199 | 2018 | Regular Session | Enrolled
Bill Title: USM property; authorize DFA to sell or lease certain parcel in Lamar County.
Spectrum: Slight Partisan Bill (Republican 2-1)
Status: (Passed) 2018-03-15 - Approved by Governor [HB1199 Detail]
Download: Mississippi-2018-HB1199-Enrolled.html
MISSISSIPPI LEGISLATURE
2018 Regular Session
To: Public Property
By: Representatives McGee, Baria, Touchstone
House Bill 1199
(As Sent to Governor)
AN ACT TO AUTHORIZE THE DEPARTMENT OF FINANCE AND ADMINISTRATION, ACTING ON BEHALF OF THE BOARD OF TRUSTEES OF STATE INSTITUTIONS OF HIGHER LEARNING, TO SELL AND CONVEY OR LEASE A PARCEL OF CERTAIN STATE-OWNED REAL PROPERTY AND ANY IMPROVEMENTS THEREON UNDER THE POSSESSION AND CONTROL OF THE UNIVERSITY OF SOUTHERN MISSISSIPPI, LOCATED IN LAMAR COUNTY, MISSISSIPPI; TO STIPULATE THE CONDITIONS UNDER WHICH THE PROPERTY MAY BE SOLD OR LEASED TO PROMOTE THE HIGHEST AND BEST USE FOR THE UNIVERSITY OF SOUTHERN MISSISSIPPI AND THE STATE; TO PROVIDE THAT THE STATE SHALL RETAIN ALL MINERAL RIGHTS TO THE REAL PROPERTY SOLD OR LEASED UNDER THIS ACT; TO AUTHORIZE DEPARTMENT OF FINANCE AND ADMINISTRATION TO CORRECT ANY DISCREPANCIES IN PROPERTY DESCRIPTIONS; TO AUTHORIZE THE DEPARTMENT OF FINANCE AND ADMINISTRATION TO RECOVER ITS COSTS ASSOCIATED WITH THE TRANSACTION FROM THE PROCEEDS OF THE SALE OR LEASE OF THE PROPERTY; AND FOR RELATED PURPOSES.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MISSISSIPPI:
SECTION 1. (1) The Department of Finance and Administration, in consultation with the Board of Trustees of State Institutions of Higher Learning, is authorized to sell and convey or lease all or portions of a parcel of certain state—owned real property and any improvements thereon under the possession and control of the University of Southern Mississippi, located in Lamar County, Mississippi, and more particularly described as follows:
THE FOLLOWING DESCRIBED PROPERTY SITUATED IN LAMAR COUNTY, MISSISSIPPI TO WIT: THE NORTHWEST 1/4 OF THE NORTHEAST 1/4 OF SECTION 15, TOWNSHIP 4 NORTH, RANGE 14 WEST, LAMAR COUNTY, MISSISSIPPI, AND CONTAINS 40.44 ACRES, MORE OR LESS; TOGETHER WITH ALL IMPROVEMENTS THEREON AND APPURTENANCES THEREUNTO BELONGING.
(2) (a) If sold, the real property described in subsection (1) of this section and any improvements thereon shall be sold for not less than the current fair market value as determined by the averaging of at least two (2) appraisals by qualified appraisers, one (1) of whom who shall be selected by the Department of Finance and Administration, and both of whom shall be certified and licensed by the Mississippi Real Estate Appraiser Licensing and Certification Board.
(b) If the real property described in subsection (1) of this section is leased, the University of Southern Mississippi, with the approval of the Board of Trustees of State Institutions of Higher Learning, is authorized to negotiate all aspects of any lease and any terms and ancillary agreements pertaining to any lease as may be reasonably necessary to effectuate the intent and purposes of this section and to ensure a fair and equitable return to the state. Any lease approved and entered into on the University's behalf shall not exceed a term of forty (40) years and shall not be cancelled by successor boards based on the binding successor doctrine.
(3) The State of Mississippi shall retain all mineral rights to the real property sold or leased under this section.
(4) The Department of Finance and Administration is authorized to correct any discrepancies in the legal description of the property provided in this section.
(5) The Department of Finance and Administration may recover its costs associated with the transaction authorized by
this section from the proceeds of the sale or lease of the real property described in subsection (1) of this section, and the net proceeds of the sale or lease shall be deposited into a special fund in the State Treasury and shall be expended only for the benefit of the University of Southern Mississippi.
SECTION 2. This act shall take effect and be in force from and after July 1, 2018.
