Senate Bill 3100

AN ACT TO AUTHORIZE THE BOARD OF DIRECTORS OF THE LEAKE COUNTY ECONOMIC DEVELOPMENT DISTRICT TO ENTER INTO A LONG-TERM LEASE AGREEMENT FOR PROPERTY OWNED BY THE LEAKE COUNTY ECONOMIC DEVELOPMENT DISTRICT TO EAST CENTRAL COMMUNITY COLLEGE FOR THE CONSTRUCTION OF A WORKFORCE TRAINING CENTER IN LEAKE COUNTY, MISSISSIPPI; AND FOR RELATED PURPOSES.

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

SECTION 1. The Board of Directors of the Leake County Economic Development District located in Leake County, Mississippi, is hereby authorized and empowered to enter into a long-term lease agreement for up to eight (8) acres of property owned by the Leake County Economic Development District to East Central Community College for the construction of a Workforce Training Center in Leake County, Mississippi. Such lease shall be for consideration as determined by the parties.

SECTION 2. A lease entered into under this act shall include the following provision: If, one (1) year from the effective date of the lease, East Central Community College has failed to make productive use of the property, the lease shall terminate and the right of possession shall revert back to the Leake County Economic Development District. The term of the lease shall not exceed fifty (50) years and may include renewal options.

SECTION 3. This act shall take effect and be in force from and after its passage.