2007 Regular Session
To: Public Property; Appropriations
By: Senator(s) Wilemon
AN ACT TO AUTHORIZE THE DEPARTMENT OF FINANCE AND ADMINISTRATION TO LEASE OR PURCHASE A PARCEL OF REAL PROPERTY LOCATED ON WOODALL MOUNTAIN IN TISHOMINGO COUNTY, MISSISSIPPI, FOR THE PURPOSE OF CREATING A TOURIST ATTRACTION; AND FOR RELATED PURPOSES.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MISSISSIPPI:
SECTION 1. (1) The Department of Finance and Administration, upon meeting the requirements of Section 29-1-1, may lease or purchase a parcel of real property not to exceed two (2) acres located on Woodall Mountain in Tishomingo County, Mississippi, for the purpose of creating a tourist attraction.
(2) (a) If leased, the real property described in subsection (1) of this section shall not be leased for more than the current fair market value as determined by the Department of Finance and Administration.
(b) If purchased, the real property described in subsection (1) of this section shall not be purchased for more 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. The amount paid by the State of Mississippi for this purchase shall not be more than Twenty-five Thousand Dollars ($25,000.00).
(3) The Department of Finance and Administration may obtain appraisals of the property, abstracts and surveys and engage the services of attorneys to conduct the transaction described in this section. The department may obtain title insurance on the real property if it determines that the best interest of the department would be served.
(4) The real property described in subsection (1) of this section may be maintained by the Department of Wildlife, Fisheries and Parks, or local government entities and shall be used as a tourist attraction.
(5) The Department of Transportation shall construct and maintain an access road to the real property described in subsection (1).
SECTION 2. This act shall take effect and be in force from and after its passage.