Senate Bill 2723

(As Passed the Senate)

AN ACT TO AUTHORIZE THE DEPARTMENT OF FINANCE AND ADMINISTRATION TO PURCHASE CERTAIN REAL PROPERTY LOCATED WITHIN THE CAPITOL COMPLEX ON HIGH STREET AND NORTH STREET IN THE CITY OF JACKSON, HINDS COUNTY, 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 is authorized to purchase certain real property, and any improvements thereon, located within the Capitol Complex in the City of Jackson, Hinds County, Mississippi, which is more particularly described as follows:

(a) Property located at 700 High Street consisting of three (3) parcels and identified as:

Parcels 1 & 2

A part of Lots 1 and 2 of Greens Subdivision of 2 Acre Lots 1 & 2 North in the City of Jackson, Mississippi and being more particularly described as follows:

Commence at a 5/8" iron pin set which marks the northeast corner of the said Lot 2 of Greens Subdivision of 2 Acres Lots 1 & 2 North Jackson, and also marks the Point of Beginning for the parcel herein described; thence South 08°56'21" West for a distance of 155.0 feet along the western right of way line of North Street to a 5/8" iron pin set at the present northern right of way line of High Street; thence North 80°28'36" West for a distance of 320.26 feet along the said northern right of way line of North Street to a 5/8" iron pin set at the eastern right of way line of North State Street; thence North 08°56'34" East for a distance of 77.50 feet along the said Street and run South 80°28'36" East for a distance of 187.47 feet to a "PK" nail set; thence North 07015'41" East for a distance of 77.56 feet along the western edge of a concrete wall to a 5/8" iron pin set at the northern line of said Lot 2 of Greens Subdivision of 2 Acre Lots 1 & 2 North Jackson; thence South 80°28'36" East for a distance of 135.06 feet along the said northern line of Greens Subdivision of Acre Lots 1 & 2 North Jackson to the Point of Beginning containing 0.8080 acres more or less.

Parcel 3

A part of the West 1/4 of 2 Acre Lot 10 North in the City of Jackson, Mississippi and being more particularly described as follows:

Commence at a 5/8" iron pin set at the intersection of the eastern right of way line of North Street with the northern right of way line of High Street as both streets are now in use, said intersection being the Point of Beginning for the parcel herein described; run thence North 08°54'12" East along the said eastern right of way line of North Street and run South 81°14'13" East parallel with the aforesaid northern right of way line of High Street for a distance of 129.69 feet to a "PK" nail found; thence North 08°54'12" East parallel with the aforesaid eastern right of way line of North Street for a distance of 25.00 feet to a "PK" nail found; thence South 81°14'13" East parallel with the said northern right of way line of High Street for a distance of 29.48 feet to a 1/2" iron pin found which marks the mid-line of the said 2 Acre Lot 10 North, also marks the northeast corner of the parcel herein describe; thence South 08°16'03" West along the said mid-line of 2 Acre Lot 10 North for a distance of 92.86 feet to a 5/8" iron pin set at the aforesaid northern right of way line of High Street; thence run North 81°14'13" West along the said northern right of way line of High Street for a distance of 160.20 feet to the Point of the Beginning, containing 0.2660 acres more or less.

(b) Property located at 610 North Street and identified as:

Parcel of land situated in the West 1/2 of 2 Acre Lot 10 North in the City of Jackson, Mississippi and being more particularly described as follows:

Beginning at a point on the East line of North Street which point is 139.2 feet measured northerly along the East line of North Street from the intersection of the East line of North Street with the North line of High Street; run thence southerly along the East line of North Street 68.5 feet; thence easterly parallel with High Street 130 feet; thence northerly parallel with North Street 25 feet; thence easterly parallel with High Street 29.48 feet to the line between the East 1/2 and the West l/2 of 2 Acre Lot 10; thence northerly parallel with North Street 40.3 feet; thence westerly 159.5 feet measured along the South line of that property described in Deed Book 2380 at Page 154 to the Point of Beginning containing 0.28 acres more or less.

(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, at least 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 is authorized to negotiate any and all closing costs related to the acquisition of these properties.

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

(5) The real property and improvements acquired under this section shall be used exclusively for state office space and parking purposes.

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