Senate Bill 2608

(COMMITTEE SUBSTITUTE)

AN ACT TO AUTHORIZE THE DEPARTMENT OF FINANCE AND ADMINISTRATION, ACTING ON BEHALF OF THE DEPARTMENT OF MENTAL HEALTH, TO SELL CERTAIN STATE-OWNED PROPERTY LOCATED IN THE CITY OF MERIDIAN, MISSISSIPPI; AND FOR RELATED PURPOSES.

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MISSISSIPPI:

SECTION 1. (1) The Department of Finance and Administration, acting on behalf of the Mississippi Department of Mental Health, and upon meeting the requirements of Section 29-1-1, may sell and convey all or part of certain state-owned real property located in the City of Meridian, Lauderdale County, commonly known as the Matty Hersee Hospital, more particularly described as follows:

The SW 1/4 of the SE 1/4 of Section 11 and

the E 1/4 of the NE 1/2 and the NE 1/4 of the

SW 1/4 of Section 14, all in Township 6

North, Range 15 East, containing 160 acres,

more or less.

(2) The real property described in subsection (1) of this section 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 who shall be selected by the Department of Finance and Administration and shall be certified and licensed by the Mississippi Real Estate Appraiser Licensing and Certification Board. However, if no bid is received which is equal to the current market value, the property may be sold at auction to the highest bidder.

(3) Any funds received by the State of Mississippi for the sale and conveyance of the real property described in subsection (1) of this section shall be deposited into the East Mississippi State Hospital Fund, Department of Mental Health.

(4) The State of Mississippi shall retain all mineral rights to the real property sold and conveyed pursuant to this section.

SECTION 2. This act shall take effect and be in force from and after July 1, 2005, and shall stand repealed on June 30, 2005.