Senate Bill 2722

(As Sent to Governor)

AN ACT TO AUTHORIZE THE DEPARTMENT OF FINANCE AND ADMINISTRATION TO PURCHASE CERTAIN REAL PROPERTY LOCATED WITHIN THE CAPITOL COMPLEX IN THE CITY OF JACKSON, HINDS COUNTY, MISSISSIPPI, KNOWN AS THE "NORTH FORTY"; AND FOR RELATED PURPOSES.

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

SECTION 1. (1) The Department of Finance and Administration is authorized to purchase certain real property, and any improvements thereon, located within the Capitol Complex in the City of Jackson, Hinds County, Mississippi, known as the "North Forty," and being more particularly described as follows:

Parts of Lots 6, 5 and Lot 3 of the subdivision C of Helm Survey now on file in the office of the Chancery Clerk, Jackson, Hinds County, Mississippi, in Plat Book A, Page 302 and more particularly described as:

Beginning at a point 73.45 feet West along the South line of George Street from the intersection of the South line of George Street and the West line of Lamar Street as both are now laid out in the City of Jackson, Mississippi; turn thence left through an angle of 91 degrees 55 minutes from the South line of George Street as now laid out and run Southerly 72.6 feet to an iron pin: turn thence to the right through an angle of 88 degrees 48 minutes and run Westerly 106.9 feet to an iron pin; turn thence to the left through an angle of 85 degrees 43 minutes and run Southerly 116.6 feet to an iron pin and the North line of Oakley Street as now laid out in the City of Jackson; turn thence right through an angle of 91 degrees 33 minutes and run Westerly along the North line of Oakley Street for a distance of 219.4 feet to an iron pin; turn thence right through an angle of 90 degrees 29 minutes and run Northerly 7.2 feet to an iron pin; turn thence left through an angle of 5 degrees 33 minutes and run Northerly 91 feet to an iron pin; turn thence right through an angle 88 degrees 32 minutes and run Easterly for a distance of 77.2 feet to an iron pin; turn thence to the left through an angle of 70 degrees 45 minutes and run Northerly 91.2 feet to an iron pin and the South line of George Street; turn thence right through an angle of 79 degrees 34 minutes and run Easterly 226.6 feet to an iron pin and the Point of Beginning.

A lot fifty-five (55) feet wide and ninety (90) feet deep situated on the south side of George Street and fronting fifty-five (55) feet in said street and being number 255 on said street; being the East half of the North half of the South half of Lot Six (6) of the Helm Survey according to Daniels Official Map of the City of Jackson, Mississippi, made in the year 1875; being the East half of the lot conveyed to Malinda Bogan by Solomon Dreyfus by deed dated May 29, 1903, and recorded in the office of the Chancery Clerk of Hinds County, at Jackson, Mississippi, in Book 40, page 155, reference to which is hereby made as a part hereof in aid of this description.

A certain parcel of land being situated in the Helm Survey in the City of Jackson, Mississippi, and being more particularly described as follows:

Beginning at an iron stake in the south line of George Street which is 354 feet west of the west line of Lamar Street at its intersection with the south line of George Street and run thence east along the south line of George Street 354 feet to the west line of Lamar Street; thence southwesterly along the west line of Lamar Street 209.67 feet to the north line of Oakley Street; thence westerly along the north line of Oakley Street for a distance of 336.1 feet to an old fence line; turning thence to the right through an angle of 86 degrees 10 minutes and run northerly along said old fence line 91.7 feet to an iron stake; turning thence to the right through an angle of 89 degrees 35 minutes and run easterly 50.4 feet to an iron stake; turn and run northerly along an old fence line 88.35 feet to the Point of Beginning.

(2) The real property and improvements described in subsection (1) of this section shall not be purchased for an amount greater than the current fair market value as determined by the average of two (2) appraisals by qualified appraisers, one (1) of whom 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.

(3) The Department of Finance and Administration may correct any discrepancies in the legal description of the property provided in this section.

(4) In acquiring ownership of the property described in subsection (1) of this section, the state shall acquire all interest in the mineral rights in the property, which shall be retained by the state in any subsequent agreement to sell or lease the property once acquired under the provisions of this act.

SECTION 2. This act shall take effect and be in force from and after its passage.